Tag: gold futures

Weekly Futures Recap With Mike Seery

Posted on by The INO.com Team

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.

Silver Futures

The silver price for the March contract settled last Friday in New York at 16.13 an ounce while currently trading at 16.76 up about 60 cents for the trading week due to the weakness in the U.S. dollar also coupled with a higher than expected CPI inflation report sending silver prices near a two-week high. I'm not involved in silver & if you have read my previous blogs, you understand that longer-term I am bullish silver as I think its extraordinarily cheap and if you're not a trader but an investor I still think prices will head into the $20 level later this year. Silver prices are still slightly below their 20 & 100-day moving average as this market really has been choppy over the last six months with very little trend. I think that will change as I will not take a short position as I do think the downside is very limited. The U.S. dollar hit a three-year low this week as that is helping keep a floor under silver prices and many other sectors, but for the bullish momentum to continue prices have to crack the 17.50 level as the volatility is starting to increase and should become more violent down the road. Growth in the United States and worldwide is coming back as the tax cuts will certainly push the economy higher in my opinion coupled with the fact of the massive infrastructure plan which is going to help lift commodities. I do think almost all asset classes will continue to climb as the stagnant economy is behind us the 1st time in nearly a decade.
TREND: MIXED
CHART STRUCTURE: POOR
VOLATILITY: INCREASING
Continue reading "Weekly Futures Recap With Mike Seery" →

Weekly Futures Recap With Mike Seery

Posted on by The INO.com Team

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.

Gold Futures

Gold prices in the April contract are currently trading at 1,319 an ounce after settling last Friday in New York at 1,319 as the U.S. stock market dropped 10% in a matter of days. Generally speaking, that sends gold prices much higher, but not in this case as the precious metals continue to go lower. The U.S. dollar is the main culprit to this phenomenon as its higher once again today as investors are buying the dollar and selling all assets including the metals as silver and platinum continue to move lower coupled with the fact that copper has absolutely fallen out of bed this week. If you take a look at the daily chart gold prices bottomed out on December 12th at 1,242 while then topping out on January 25th at 1,370 and the 50% retracement stands around the 1,306 area. I think that will be tested in next week's trade as I am currently not involved in any of the precious metals. Gold is trading below their 20-day moving average, but slightly above its 100-day as we are right near a five-week low as investors don't want to own anything at the current time. It looks to me this could continue next week as well. However, there is panic going on at present as there will be very good buying opportunities in the coming days ahead.
TREND: MIXED - LOWER
CHART STRUCTURE: POOR
VOLATILITY: INCREASING
Continue reading "Weekly Futures Recap With Mike Seery" →

Weekly Futures Recap With Mike Seery

Posted on by The INO.com Team

We've asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly futures recap of the 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.

Natural Gas Futures

Natural gas prices experienced a wild trading week after settling last Friday in New York at 3.17 in the March contract while now trading at 2.89 down about 28 points for the week. I was recommending a bullish position from around the 3.13 level getting stopped out in yesterday's trade as prices are now at a three-week low. I had also been recommending a bullish position in the February contract as we had to roll over into the March giving back some of the gains that we witnessed. I'm now sitting on the sidelines waiting for another trend to develop as the trend has turned negative. Natural gas prices are trading under their 20 and 100-day moving average as the volatility has exploded with extremely warm temperatures last week which sent prices down. However, colder temperatures are upon us as this market looks to be choppy so avoid for now & look at other markets with a better risk/reward scenario as the volatility will remain high in February. However, the spring season is almost upon us. At the present time I do not have any recommendations in the energy sector as I still remain bullish as natural gas prices still are cheap, but does not meet my criteria to enter into a trade so I will be patient and wait for the chart structure to improve, but I do think prices to the downside are limited.
TREND: LOWER
CHART STRUCTURE: POOR
VOLATILITY: HIGH
Continue reading "Weekly Futures Recap With Mike Seery" →

Weekly Futures Recap With Mike Seery

Posted on by The INO.com Team

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.

Silver Futures

Silver futures in the March contract settled last Friday in New York at 17.03 an ounce while currently trading at 17.35 up about $0.30 for the trading week and traded as high as 17.70 in yesterday's trade before selling off. Profit-taking was to blame as that was a four-month high. I have been recommending a bullish position from around the 17.50 level and if you took that trade continue to place the stop loss under the two-week low standing at 16.73 as the chart structure will not improve for another seven trading days. You're going to have to accept the monetary risk as the volatility certainly has come back, which is a terrific thing to see in my opinion. The U.S. dollar has hit a three year low this week continuing its bearing trend which is helping support the precious metals as gold prices were also higher this week. Continue to play this to the upside, and if you did not take the original trade, I'm still recommending it at today's price level as the risk is about $750 per mini contract plus slippage & commission. Silver prices are trading above their 20 and 100-day moving average as the trend as positive as I am bullish all commodity sectors including the stock market as my only bearish recommendation is in the bond market as 2018 could see terrific trends to the upside.
TREND: HIGHER
CHART STRUCTURE: EXCELLENT
VOLATILITY: INCREASING
Continue reading "Weekly Futures Recap With Mike Seery" →

Weekly Futures Recap With Mike Seery

Posted on by The INO.com Team

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.

Gold Futures

Gold futures settled last Friday in New York at 1,334 an ounce while currently trading at 1,334 unchanged for the trading week as the volatility certainly has increased as gold prices have rallied about $100 from their December 12th low of 1,238 as this remains in a bullish trend. I do not have any recommendations in the precious metals, but if you are long a futures contract, I would place the stop loss under the two-week low at 1,308 as the chart structure will also improve in next week's trade. The main reason for the recent rally is the fact that the U.S. dollar has hit a three year low which is definitely a fundamental bullish indicator towards gold and the precious metals as a whole. The next major level of resistance is the September 8th high of 1,365. I think prices will try to touch that level in the coming weeks ahead as it looks to me that the dollar will continue its bearish trend, therefore, supporting gold despite the fact that the U.S. stock market seems to hit an all-time high every day which used to be negative towards gold. But 2018 is a different story as the commodity markets will start to catch up to the high stock prices in my opinion as the U.S economy is growing for the 1st time in nearly ten years. Gold futures are trading above their 20 and 100-day moving average as clearly the trend is higher, but I will look at other markets with a better risk/reward scenario at present.
TREND: HIGHER
CHART STRUCTURE: IMPROVING
VOLATILITY: INCREASING
Continue reading "Weekly Futures Recap With Mike Seery" →