Gold Futures Swing Trading Signals

GOLD

WEEKLY SUMMARY

TREND MOMENTUM: 1333 Bearish

PRICE MOMENTUM: 1317 Bearish

PRICE INDICATOR:

EXIT LONGS:

2 ) 1338

1) 1325


EXIT SHORTS:

  1. 1304

  2. 1296


WEEKLY TREND MOMENTUM

The gold futures contract closed at 1312.3. The market closing below the 9 day SMA 1333 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 1317, is confirmation 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 1304 - 1296, and go long on a weekly reversal stop. If long, use the 1296 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 1325 - 1338 during the week.


*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed herein constitutes a solicitation of the purchase or sale of any futures or options contracts. This report is for educational purposes only.