Gold Trend Momentum: Bullish
Patrick MontesDeOca | Mar 27, 2017 02:31PM ET
The VC Price Momentum Indicator
Gold and Silver Weekly Futures Swing Trading Instructions
March 24, 2017
Signals are automatically generated by integrating electronic weekly statistics with proprietary algorithms.
GOLD
WEEKLY SUMMARY
TREND MOMENTUM: 1228 Bullish
PRICE MOMENTUM: 1243 Bullish
PRICE INDICATOR:EXIT LONGS:
2 ) 1269
1) 1259
EXIT SHORTS:
1233
1217
WEEKLY TREND MOMENTUM
The gold futures contract closed at 1249. The market closing above the 9 day SMA 1228 is confirmation that the weekly trend momentum is bullish. A close below the 9 SMA would negate the weekly bullish short-term trend to neutral.
WEEKLY PRICE MOMENTUM
With the market closing above the VC Weekly Price Momentum Indicator of 1243, 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 1233 - 1217, and go long on a weekly reversal stop. If long, use the 1217 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 1259 - 1269 during the week.
SILVER
WEEKLY SUMMARY
TREND MOMENTUM: 17.68 Bullish
PRICE MOMENTUM: 17.63 Bullish
PRICE INDICATOR:
EXIT LONGS:
2) 18.09
1) 17.92
EXIT SHORTS:
17.46
17.17
WEEKLY TREND MOMENTUM
The silver futures contract closed at 17.75. The market closing above the 9 SMA 17.68, is confirmation that the weekly trend momentum is bullish. A close below the 9 SMA would negate the weekly bullish short-term trend to neutral.
WEEKLY PRICE MOMENTUM
With the market closing above the VC Weekly Price Momentum Indicator of 17.63, 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 17.46 - 17.17, and go long on a weekly reversal stop. If long, use the 17.17 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 17.92 - 17.09 during the week.
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