Monthly
GOLD
Gold
Trading Instructions
September 1, 2017
MONTHLY TREND MOMENTUM 1260 Bullish
The gold futures contract closed at 1322 The market closing above the 20 SMA 1260 is confirmation that the trend momentum is bullish. A close below the 20 SMA would negate the bullish long-term trend to neutral.
MONTHLY PRICE MOMENTUM 1254 Bullish
With the market closing above the VC Monthly Price Momentum Indicator of 1254 it confirms that the price momentum is bullish. A close below the VC Monthly, would negate the bullish signal to neutral.
MONTHLY PRICE INDICATOR – Exit LONGS Exit SHORTS
S1 1275 B1 1379
S2 1229 B2 1350
Look to take profits if short on corrections at the 1275 – 1229 levels and go long on a weekly reversal stop. If long, use the 1229 level as a Monthly Stop Close Only and Good Till Cancelled order. Look to take profits on longs, as we reach the 1350 – 1379 levels during the Month.
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. It is for educational purposes only.