The VC Price Momentum Indicator: November 15, 2013
Patrick MontesDeOca | Nov 15, 2013 05:08AM ET
Gold:
WEEKLY MOVING AVERAGES
The December gold futures contract closed at 1290 . The market closing below the 9 MA (1312) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bearish short-term trend to neutral.
VC CODE WEEKLY MOMENTUM INDICATOR
With the market closing above the VC Weekly Price Momentum Indicator of 1282 it confirms that the price momentum is bullish.
VC CODE WEEKLY PRICE INDICATOR
Cover short on corrections at the 1269 to 1249 levels and go long on a weekly reversal stop. If long, use the 1249 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the to 1302 to 1315 levels during the week.
Silver:
WEEKLY MOVING AVERAGES
The December Silver futures contract closed at 20.77. The market closing below the 9 day MA (21.72) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bullish short-term trend to neutral.
VC CODE WEEKLY MOMENTUM INDICATOR
With the market closing below the VC Weekly Price Momentum Indicator of 20.87, it confirms that the price momentum is bearish.
VC CODE WEEKLY PRICE INDICATOR
Cover short on corrections at the 20.30 to 19.84 levels and go long on a weekly reversal stop. If long, use the 19.84 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 21.34 to 21.92 levels during the week.
Euro:
WEEKLY MOVING AVERAGES
The Euro – PA Index contract closed at 134.97. The market closing below the 9 day MA (135.54) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bearish short-term trend to neutral.
VC CODE WEEKLY MOMENTUM INDICATOR
With the market closing above the VC Weekly Price Momentum Indicator of 134.64, it confirms that the price momentum is bullish.
VC CODE WEEKLY PRICE INDICATOR
Cover short on corrections at the 134.23 to 133.49 levels and go long on a weekly reversal stop. If long, use the 133.49 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 135.38 to 135.79 levels during the week.
Dollar Index:
WEEKLY MOVING AVERAGES
The Dec futures contract closed at 80.88. The market closing above the 9 day MA (80.40) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish short-term trend to neutral.
VC CODE WEEKLY MOMENTUM INDICATOR
With the market closing below the VC Weekly Price Momentum Indicator of 81.02, it confirms that the price momentum is bullish.
VC CODE WEEKLY PRICE INDICATOR
Cover short on corrections at the 80.66 to 80.44 levels and go long on a weekly reversal stop. If long, use the 80.44 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 81.24 to 81.60 levels during the week.
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E-mini S&P 500:
WEEKLY MOVING AVERAGES
The Dec E Mini futures contract closed at 1.794. The market closing above the 9 day MA (1.731) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish short-term trend to neutral.
VC CODE WEEKLY MOMENTUM PRICE INDICATOR
With the market closing above the VC Weekly Price Momentum Indicator of 1.782, it confirms that the price momentum is bullish.
VC CODE WEEKLY PRICE INDICATOR
Cover short on corrections at the 1.767 to 1.740 levels and go long on a weekly reversal stop. If long, use the 1.740 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1.809 to 1.823 levels during the week.
Crude Oil:
WEEKLY MOVING AVERAGES
The December Crude Oil contract closed at 93.74. The market closing below the 9 MA (94.06) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bearish trend to neutral.
VC CODE WEEKLY MOMENTUM INDICATOR
With the market closing below the VC Weekly Price Momentum Indicator of 93.96, it confirms that the price momentum is bearish.
VC CODE WEEKLY PRICE INDICATOR
Cover shorts on corrections at the 93.36 to 92.98 levels and go long on a weekly reversal stop. If long, use the 92.89 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits, if long, as we reach the 94.33 to 94.92 levels during the week.
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