Gold Price Momentum: Bullish
Patrick MontesDeOca | May 21, 2017 03:40PM ET
The VC Price Momentum Indicator
Gold and Silver Weekly Futures Swing Trading Instructions
May 19, 2017
Signals are automatically generated by integrating electronic weekly statistics with proprietary algorithms.
GOLD
WEEKLY SUMMARY
TREND MOMENTUM: 1257 Bearish
PRICE MOMENTUM: 1249 Bullish
PRICE INDICATOR:EXIT LONGS:
2 ) 1287
1) 1250
EXIT SHORTS:
1232
1211
WEEKLY TREND MOMENTUM
The gold futures contract closed at 1254. The market closing below the 9 day SMA 1257 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 1249, 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 1232 - 1211, and go long on a weekly reversal stop. If long, use the 1211 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 1270 - 1287 during the week.
SILVER
WEEKLY SUMMARY
TREND MOMENTUM: 17.52 Bearish
PRICE MOMENTUM: 16.74 Bullish
PRICE INDICATOR:
EXIT LONGS:
2) 17.37
1) 17.08
EXIT SHORTS:
16.46
16.13
WEEKLY TREND MOMENTUM
The silver futures contract closed at 16.80. The market closing below the 9 SMA 17.52 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 16.74, 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 16.46 - 16.13, and go long on a weekly reversal stop. If long, use the 15.59 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 17.08 - 17.37 during the week.
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