trade signals

COMEX Gold:

Gold trading is weaker in ACCESS trade this morning reversing the firmer tone seen during the prior session. Trend indicators have moved from a bullish to a neutral price pattern.

TREND INDICATORS:

Simple Moving Average (10-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 10-Day simple moving average has a strong bullish bias.

Simple Moving Average (25-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 25-Day simple moving average has a strong bullish bias.

Simple Moving Average (50-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 50-Day simple moving average has a strong bullish bias.

ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is rising, while the long term trend, based on a 50-Day moving average, is up. As the ADX is rising it indicates that the current trend is strong and should remain intact. Look for the current trend to continue.

MOMENTUM INDICATORS:
MACD: The MACD is in bullish territory.

RSI: The 14-Day RSI is in neutral territory. (RSI is at 59.67). This indicator issues bullish signals when the RSI line dips below the oversold zone (currently set at 20.00); a bearish signal is generated when the RSI rises into the overbought zone (currently set at 80.00). Nevertheless with the RSI at 59.67 the market is somewhat overbought. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of weakness from this indicator before getting too bearish here.

VOLATILITY INDICATORS:

Bollinger Bands (20-Day Average +/-1 Standard Deviation): As prices are closer to the bottom band than the top band, the Bollinger Bands are indicating overbought prices. Despite this overbought condition the market may become more overbought before turning lower. As a result, the market will look for additional weakening in prices before turning bearish on this indicator.

RESISTANCE AND SUPPORT LEVELS:

848.00 - Highest High in last 50-Days
830.20 - Highest High in last 10-Days
828.80 - High
828.04 - 20-Day Simple Moving Average Plus 2 Standard Deviations
826.20 - Last Price
825.20 - Low
824.07 - 3-Day Simple Moving Average
818.00 - 20-Day Simple Moving Average Plus 1 Standard Deviation
810.56 - 25-Day Simple Moving Average
810.49 - 10-Day Simple Moving Average
802.60 - 50-Day Simple Moving Average
797.90 - 20-Day Simple Moving Average Minus 1 Standard Deviation
789.60 - Lowest Low in last 10-Days
787.86 - 20-Day Simple Moving Average Minus 2 Standard Deviations
757.51 - 100-Day Simple Moving Average
749.00 - Lowest Low in last 50-Days
714.23 - 200-Day Simple Moving Average

COMEX Silver:

Silver futures are weaker this morning reversing the firmer tone seen during the prior session. Trend indicators are showing the market in a neutral price pattern at present.

TREND INDICATORS:

Simple Moving Average (10-Day): Recent activity this morning has seen prices trade above this moving average. However, despite prices trading above the moving average line, the moving average is in a downward slope from the previous session. If prices trade below the moving average then the trend will be clearly established as up. However, this strength in the price will need to be watched. As a result the 10-Day simple moving average has a weak bearish bias.

Simple Moving Average (25-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 25-Day simple moving average has a strong bullish bias.

Simple Moving Average (50-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 50-Day simple moving average has a strong bullish bias.

ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is falling, while the long term trend, based on a 50-Day moving average, is up. However, the weak ADX indicates that the current trend is deteriorating and may possibly reverse. Look for choppiness ahead.

MOMENTUM INDICATORS:
MACD: The MACD is in bullish territory.

RSI: The 14-Day RSI is in neutral territory. (RSI is at 57.11). This indicator issues bullish signals when the RSI line dips below the oversold zone (currently set at 20.00); a bearish signal is generated when the RSI rises into the overbought zone (currently set at 80.00). Nevertheless with the RSI at 57.11 the market is somewhat overbought. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of weakness from this indicator before getting too bearish here.

VOLATILITY INDICATORS:

Bollinger Bands (20-Day Average +/-1 Standard Deviation): As prices are closer to the bottom band than the top band, the Bollinger Bands are indicating overbought prices. The market is overbought and appears to be encountering resistance near recent highs. Look for a potential top in this area.

RESISTANCE AND SUPPORT LEVELS:

16.275 - Highest High in last 50-Days
15.020 - 20-Day Simple Moving Average Plus 2 Standard Deviations
14.900 - Highest High in last 10-Days
14.830 - High
14.800 - Last Price
14.765 - 3-Day Simple Moving Average
14.765 - Low
14.738 - 20-Day Simple Moving Average Plus 1 Standard Deviation
14.522 - 25-Day Simple Moving Average
14.493 - 50-Day Simple Moving Average
14.371 - 10-Day Simple Moving Average
14.174 - 20-Day Simple Moving Average Minus 1 Standard Deviation
13.892 - 20-Day Simple Moving Average Minus 2 Standard Deviations
13.740 - Lowest Low in last 10-Days
13.695 - 100-Day Simple Moving Average
13.493 - 200-Day Simple Moving Average
13.325 - Lowest Low in last 50-Days

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