Gold Trend Momentum: Bullish
Patrick MontesDeOca | Apr 30, 2017 10:43AM ET
The VC Price Momentum Indicator
Gold and Silver Weekly Futures Swing Trading Instructions
April 28, 2017
Signals are automatically generated by integrating electronic weekly statistics with proprietary algorithms.
GOLD
WEEKLY SUMMARY
TREND MOMENTUM: 1253 Bullish
PRICE MOMENTUM: 1270 Bearish
PRICE INDICATOR:
EXIT LONGS:
2 ) 1289
1) 1278
EXIT SHORTS:
1259
1251
WEEKLY TREND MOMENTUM
The gold futures contract closed at 1268. The market closing above the 9 day SMA 1253 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 below the VC Weekly Price Momentum Indicator of 1270, is confirmation that the price momentum is bullish. 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 1259 - 1251, and go long on a weekly reversal stop. If long, use the 1251 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 1278 - 1289 during the week.
SILVER
WEEKLY SUMMARY
TREND MOMENTUM: 17.83 Bearish
PRICE MOMENTUM: 17.50 Bearish
PRICE INDICATOR:
EXIT LONGS:
2) 18.37
1) 17.83
EXIT SHORTS:
16.95
16.63
WEEKLY TREND MOMENTUM
The silver futures contract closed at 17.28. The market closing below the 9 SMA 17.83 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 17.50, 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 16.96 - 16.63, and go long on a weekly reversal stop. If long, use the 16.63 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 17.83 - 18.37 during the week.
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