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Gold Weekly Price Momentum: Bullish

By Patrick MontesDeOcaCommoditiesJul 15, 2017 01:16PM ET
www.investing.com/analysis/gold-weekly-price-momentum-:-bullish-200201294
Gold Weekly Price Momentum: Bullish
By Patrick MontesDeOca   |  Jul 15, 2017 01:16PM ET
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The Weekly VC Price Momentum Indicator
Gold and Silver Futures Swings Report

Trading Instructions July 14, 2017

Signals are automatically generated by integrating electronic
weekly
statistics with proprietary algorithms.

Gold

WEEKLY SUMMARY

TREND MOMENTUM: 1252 Bearish
PRICE MOMENTUM: 1222 Bullish
PRICE INDICATOR:
EXIT LONGS:
2 ) 1251
1) 1239
EXIT SHORTS:

  • 1210
  • 1193

WEEKLY TREND MOMENTUM
The gold futures contract closed at 1228. The market closing below the 9 day SMA 1252 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 1222, 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 1210 – 1193, and go long on a weekly reversal stop. If long, use the 1193 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 1239 – 1251 during the week.

Silver

WEEKLY SUMMARY

TREND MOMENTUM: 16.73 Bearish
PRICE MOMENTUM: 15.72 Bearish

PRICE INDICATOR:
EXIT LONGS:
2) 16.64
1) 16.28
EXIT SHORTS:

  • 15.36
  • 14.80

WEEKLY TREND MOMENTUM
The silver futures contract closed at 15.93. The market closing below the 9 SMA 16.73 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 15.72, it confirms 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 15.36 – 14.80, and go long on a weekly reversal stop. If long, use the 14.80 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 16.28 – 16.64 during the week.

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. It is for educational purposes only.

Gold Weekly Price Momentum: Bullish
 

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Gold Weekly Price Momentum: Bullish

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