Silver Weekly Trend Momentum Is Bearish
Patrick MontesDeOca | Sep 25, 2017 10:53AM ET
The VC Price Momentum Indicator
Silver Weekly Futures Swing Trading Instructions
September 22, 2017
Signals are automatically generated by integrating electronic weekly statistics with proprietary algorithms.
Silver
WEEKLY SUMMARY
TREND MOMENTUM: 17.24 Bearish
PRICE MOMENTUM: 17.17 Bearish
PRICE INDICATOR:
EXIT LONGS:
2) 17.98
1) 17.48
EXIT SHORTS:
- 16.67
- 16.36
WEEKLY TREND MOMENTUM
The silver futures contract closed at 16.98. The market closing below the 9 SMA 17.24 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 17.17, 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 16.67 - 16.36, and go long on a weekly reversal stop. If long, use the 16.36 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 17.48 17.98 during the week.
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