Silver Trend Momentum Bullish
Patrick MontesDeOca | Feb 18, 2017 11:50AM ET
The VC Price Momentum Indicator
Gold and Silver Weekly Futures Swing Trading Instructions
Signals are automatically generated by integrating electronic weekly statistics with proprietary algorithms.
Gold Weekly Summary
TREND MOMENTUM: 1240 Bullish
PRICE MOMENTUM: 1242 Bullish
PRICE INDICATOR:
EXIT LONGS:
2 ) 1260
1) 1253
EXIT SHORTS:
- 1236
- 1224
WEEKLY TREND MOMENTUM
The gold futures contract closed at 1245. The market closing above the 9 SMA 1240 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 1242, 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 1236 - 1224, and go long on a weekly reversal stop. If long, use the 1224 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 1253 - 1260 during the week.
Silver Weekly Summary
TREND MOMENTUM: 16.96 Bullish
PRICE MOMENTUM: 17.97 Bullish
PRICE INDICATOR:
EXIT LONGS:
2) 18.38
1) 18.20
EXIT SHORTS:
- 17.79
- 17.55
WEEKLY TREND MOMENTUM
The silver futures contract closed at 18.03. The market closing above the 9 SMA 16.96, 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 17.97, 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 17.79 - 17.55, and go long on a weekly reversal stop. If long, use the 17.55 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 18.20 - 18.38 during the week.
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