S&P 500
2063.37
-18.06 -0.88%
Dow Indu
17750.91
-140.25 -0.79%
Nasdaq
4761.65
-55.94 -1.17%
Crude Oil
43.75
+0.10 +0.23%
Gold
1281.430
-5.265 -0.41%
Euro
1.14936
-0.00059 -0.05%
US Dollar
93.135
+0.073 +0.09%
Weak

Weekly Futures Recap With Mike Seery

We've asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Crude Oil Futures

Crude oil futures in the June contract settled last Friday in New York at 43.73 a barrel while currently trading at 45.73 up about $2 for the trading week hitting a five-month high which has been a very impressive rally over the last 3 months. Crude oil prices are trading above their 20 and 100-day moving average telling you that the short-term trend is higher. However, I have been sitting on the sidelines as the chart structure has not been terrific over the last several months as I do think there is a top in the near future as I think prices can retest $50, but if that happens production will start to come back online. The U.S dollar continues to move lower as that has definitely helped crude oil prices rally about $17 over the last 3 months as the next major level of resistance is around $48. [Read more...]

Are We or Are We Not in a New Gold Bull Market?

Technical analyst Jack Chan has examined the charts and says that if we are in a new bull market, prices in both gold and gold equities should begin to pull back and consolidate soon.

As suggested in our previous analysis, we need to see a couple of things happening in order to welcome a potential new bull market:

#1. COT data to return to bull market values.
#2. Gold price to exceed the 2015 high at $1,302.

Nobody can predict when this will happen, but we can prepare by looking at the past bull and bear markets so that we can recognize a new bull market if and when it materializes.

The Bear Market From 1981 to 2001

Gold Spot Price

After topping above $700 in 1981, gold lost more than half of its value in just over a year, followed by two sharp bear market rallies, and then died a slow death over the next 12 years. [Read more...]

Article source: http://feedproxy.google.com/~r/theaureport/Ajgh/~3/3zd7EIrHwcw/16953

This Fibonacci Timing Zone Is To Blame For The Market Volatility?

I was on CNBC's Squawk Box today and host Brian Sullivan asked where I thought the market was going. The truth is, we are in a pocket of high volatility with little net price change from 1 year ago. Why? We are caught in a Fibonacci Timing Zone that ended the massive bull market.

Learn more about TradingAnalysis.com here.

Plan Your Trade, and Trade Your Plan,
Todd Gordon

What To Expect In The Oil Market

By: Sara Nunnally of Street Authority

The latest rumor around the global water cooler that Russia and OPEC-leader Saudi Arabia have agreed to freeze oil production at January or February levels has been dispelled... for now.

The OPEC leaders meeting in Doha failed to reach an agreement to cap production, with Iran bowing out of the meeting altogether, and refusing to pull back on its oil production. As a result, oil prices took a big tumble. Brent crude fell a harsh 7% on the news. West Texas Intermediate (WTI) fell almost as much at 6.6%.

But does a "no deal" result from the OPEC Doha meeting mean production caps are off the table? Or that OPEC wouldn't seek an alliance outside its cartel?

Hardly.

In response to the meeting, Qatar's energy minister Mohammed bin Saleh al-Sada said, "We of course respect [Iran's] position... The freeze could be more effective definitely if major producers, be it from OPEC members like Iran and others, as well as non-OPEC members, are included in the freeze."

Al-Sada said that OPEC members need more time. Which says to me that this won't be the last we hear of production caps.

Indeed, this wasn't the first time we'd heard about potential cooperation between OPEC and Russia, either.

The rumor of a possible oil production freeze lifted oil markets as much as 4.7% and kept prices for WTI above $41 mid-week last week. That means oil prices have been on a wild ride. Take a look at WTI futures: [Read more...]

Article source: http://www.streetauthority.com/node/30672983

All Hail the Mighty Silver Bugs...

Precious metals expert Michael Ballanger examines silver's recent moves upward.

LL

In my business, there is a great deal of travel, be it to properties in the Peruvian Andes or the Canadian Yukon or to the investment conferences in New Orleans or San Francisco or London, so I get a full psychographic cross section of every type of investor imaginable. First of all, the audiences I have encountered at the "Sound Money" conferences in Nassau or Bermuda are usually quite conservative and usually well-dressed and well-groomed. When the topic is gold and it is a controversial speaker looking for "the end of Western civilization," the audiences tend to be a tad different with hair length and dress code noticeably more avant-garde.

However, when the topic is confined to silver, while the speakers tend to be "evangelical," the audiences appear to be (operative word being "appear") simply stark-raving madmen of the first order. They usually dress in military fatigues, the males are all in ponytails, the women weigh more than the men, and the T-shirts and baseball caps on both males and females carry logos from either the WWF or the Monster Truck conventions. However, they are usually quite erudite when discussing "survival techniques"; they are usually extremely well educated and they are all able to rhyme off the silver production numbers for the past 20 years BY COUNTRY; and most importantly, they carry high distain for anyone who fails to know these facts. [Read more...]

Article source: http://feedproxy.google.com/~r/theaureport/Ajgh/~3/bIkOdeGRGww/16946

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