The VC Price Momentum Indicator
Gold Weekly Mean Reversion Trading Instructions
December 15, 2017
Signals are automatically generated by integrating electronic weekly statistics with proprietary algorithms.
WEEKLY SUMMARY
TREND MOMENTUM: 1258 Bearish
PRICE MOMENTUM: 1253 Bullish
PRICE INDICATOR:
EXIT LONGS:
2 ) 1279
1) 1269
EXIT SHORTS:
1243
1227
WEEKLY TREND MOMENTUM
The gold futures contract closed at 1258. The market closing below the 9 day SMA 1277 is confirmation that the weekly trend momentum is bearish. A close above the 9 SMA would negate the weekly bearish short-term trend to neutral.
WEEKLY PRICE MOMENTUM
With the market closing above the VC Weekly Price Momentum Indicator of 1253, is confirmation that the price momentum is bullish. A close below the VC Weekly, it would trigger weekly stops and negate the bullish signal to neutral.
WEEKLY PRICE INDICATOR
Look to take profits on shorts into corrections at the Buy 1 and 2 levels of 1243 - 1227, and go long on a weekly reversal stop. If long, use the 1227 level as a Stop Close Only and Good Till Cancelled order. Look to take profits on longs as we reach the Sell 1 and 2 levels of 1269 - 1279 during the week.
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed herein constitutes a solicitation of the purchase or sale of any futures or options contracts. This report is for educational purposes only.