June Gold Futures Contract Close At $1177

London (May 3)  The Weekly VC Price Momentum Indicator. Signals are automatically generated by integrating electronic weekly statistics with proprietary algorithms.

Gold Price WEEKLY MOVING AVERAGES. The June gold futures contract closed at 1177. The market closing below the 9 day MA 1187, is confirmation that the weekly trend momentum is bearish. A close above the 9 day MA would negate the weekly bearish short-term trend to neutral.

WEEKLY MOMENTUM INDICATOR

With the market closing below the VC Weekly Price Momentum Indicator of 1187, 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 1158 – 1140, and go long on a weekly reversal stop. If long, use the 1140 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 1205 – 1234 during the week.

Silver Price WEEKLY MOVING AVERAGES

The July silver futures contract closed at 16.12. The market closing below the 9 day MA 16.31, is confirmation that the weekly trend momentum is bearish. A close above the 9 day MA would negate the weekly bearish short-term trend to neutral.

WEEKLY MOMENTUM INDICATOR

With the market closing below the VC Weekly Price Momentum Indicator of 16.19, 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 15.65 – 15.18, and go long on a weekly reversal stop. If long, use the 15.18 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 16.66 – 17.20 during the week.

Source: ema2trade