Signals are automatically generated by integrating electronic weekly statistics with proprietary algorithms.
WEEKLY MOVING AVERAGES
The December gold futures contract closed at 1239. The market closing below the 9 day MA (1240) is confirmation that the weekly trend momentum is bearish. A close above the 9 day MA would negate the weekly bearish short-term trend to neutral.
WEEKLY MOMENTUM INDICATOR
With the market closing above the VC Weekly Price Momentum Indicator of 1237, it confirms that the price momentum is bullish. A close below the VC Weekly, it would negate the bullish signal to neutral.
WEEKLY PRICE INDICATOR
Cover short on corrections at the 1224 – 1209 levels and go long on a weekly reversal stop. If long, use the 1209 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1252 – 1265 levels during the week.
SILVER
WEEKLY MOVING AVERAGES
The December silver futures contract closed at 17.27. The market closing below the 9 day MA (18.20) is confirmation that the weekly trend momentum is bearish. A close above the 9 day MA would negate the weekly bearish short-term trend to neutral.
WEEKLY MOMENTUM INDICATOR
With the market closing below the VC Weekly Price Momentum Indicator of 17.37, it confirms that the price momentum is bearish. A close above the VC Weekly, it would negate the bearish signal to neutral.
WEEKLY PRICE INDICATOR
Cover short on corrections at the 16.92 – 16.57 levels and go long on a weekly reversal stop. If long, use the 16.57 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 17.72 – 18.17 levels 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.
Disclaimer: Trading Derivatives, Financial Instruments And Precious Metals Involves Significant Risk Of Loss And Is Not Suitable For Everyone. Past Performance Is Not Necessarily Indicative Of Future Results.