Gold
WEEKLY MOVING AVERAGES
The February gold futures contract closed at 1267 . The market closing above the 9 MA (1238) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish short-term trend to neutral.
VC CODE WEEKLY MOMENTUM INDICATOR
With the market closing above The VC Weekly Price Momentum Indicator of 1257, it confirms that the price momentum is bullish. A close below the VC Weekly, would negate the bullish signal to neutral.
VC CODE WEEKLY PRICE INDICATOR
Cover short on corrections at the 1241 to 1215 levels and go long on a weekly reversal stop. If long, use the 1215 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1238 to 1299 levels during the week.
Silver
WEEKLY MOVING AVERAGES
The March Silver futures contract closed at 19.90. The market closing below the 9 day MA (19.91) is confirmation that the trend momentum is turning bearish. A close above the 9 MA would negate the weekly bullish short-term trend to neutral.
VC CODE WEEKLY MOMENTUM INDICATOR
With the market closing below The VC Weekly Price Momentum Indicator of 19.99, it confirms that the price momentum is bearish. A close above the VC Weekly, it would negate the bearish signal to neutral.
VC CODE WEEKLY PRICE INDICATOR
Cover short on corrections at the 19.55 to 19.21 levels and go long on a weekly reversal stop. If long, use the 19.21 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 20.68 and 21.06 levels during the week.
Euro
WEEKLY MOVING AVERAGES
The Euro PA Index contract closed at 136.80. The market closing above the 9 day MA (136.59) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish short-term trend to neutral.
VC CODE WEEKLY MOMENTUM INDICATOR
With the market closing above The VC Weekly Price Momentum Indicator of 136.33, it confirms that the price momentum is bullish. A close below the VC Weekly, it would negate the bearish signal to neutral.
VC CODE WEEKLY PRICE INDICATOR
Cover short on corrections at the 135.68 to 134.57 levels and go long on a weekly reversal stop. If long, use the 134.57 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 137.45 to 138.11 levels during the week.
E-mini S&P 500
WEEKLY MOVING AVERAGES
The March E Mini futures contract closed at 1.781. The market closing below the 9 day MA (1.811) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bearish short-term trend to neutral.
VC CODE WEEKLY MOMENTUM PRICE INDICATOR
With the market closing below The VC Weekly Price Momentum Indicator of 1.802, it confirms that the price momentum is bearish. A close above the VC Weekly, it would negate the bearish signal to neutral.
VC CODE WEEKLY PRICE INDICATOR
Cover short on corrections at the 1.759 to 1.734 levels and go long on a weekly reversal stop. If long, use the 1.734 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1.823 to 1.866 levels during the week.
Crude Oil
WEEKLY MOVING AVERAGES
The March Crude Oil contract closed at 96.90. The market closing above the 9 MA (96.24) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish trend to neutral.
VC CODE WEEKLY MOMENTUM INDICATOR
With the market closing above The VC Weekly Price Momentum Indicator of 96.13, it confirms that the price momentum is bullish. A close below the VC Weekly, it would negate the bullish signal to neutral.
VC CODE WEEKLY PRICE INDICATOR
Cover shorts on corrections at the 94.42 to 91.94 levels and go long on a weekly reversal stop. If long, use the 91.94 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits, if long, as we reach the 98.61 to 100.32 levels 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 therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
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.