The VC Price Momentum Indicator: Silver Weekly Futures Swing Trading Instructions
Silver
Weekly Summary
Trend Momentum: 17.01 Bearish
Price Momentum: 17 Bearish
Price Indicator:
Exit Longs:
- 17.40
- 17.14
Exit Shorts:
- 16.74
- 16.60
Weekly Trend Momentum
The silver futures contract closed at 16.87. The market closing below the 9 SMA 17.01 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 below the VC Weekly Price Momentum Indicator of 17, it confirms that the price momentum is bearish. A close above the VC Weekly, it would trigger weekly stops and negate the bearish signal to neutral.
Weekly Price Indicator
Look to take profits on shorts into corrections at the Buy 1 and 2 levels of 16.74 - 16.60 and go long on a weekly reversal stop. If long, use the 16.60 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 17.14 - 17.40 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.