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Weekly Futures Recap W/ 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.

Grain Futures-- The grain futures this week saw extreme volatile trading action with November soybeans up nearly $.16 this Friday to settle around 12.20 a bushel trading right at its 20 day moving average but still below its 100 day moving average after settling last Friday at 12.10 a bushel gaining slightly as floods have entered the Midwest. Soybeans on the daily chart could have a possible double bottom in the November soybeans as prices traded as high as 12.40 in Wednesday’s trading session before retracing only the spring right back as weather conditions in many states are still receiving record snow. December corn futures are lower by 5 cents this Friday afternoon trading above its 20 day moving average but below its 100 day moving average which stands at 5.69 after settling last Friday at 5.24 up around $.35 for the week as massive floods are delaying planting. The Midwest has had the 2nd coldest spring in the history of the United States and has delayed planting significantly which is concerning after last year’s terrible crop. Wheat futures for the July contract have broken out above the 7.20 level which is now at a 4 week high trading above its 20 day moving average but below its 100 day moving average which stands at 7.48 and I do believe that there will be further buy stops which could propel prices even higher. [Read more...]

Weekly Futures Recap W/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.

Precious Metal Futures-- The precious metals today were lower across the board after rallying sharply higher in early trade only to reverse and sell off towards the closing bell finishing lower for the 1st time in 4 trading sessions finishing down $8 an ounce in the June contract at 1,454. There has been extreme volatility lately finishing higher by $60 dollars for the week bucking its bearish trend and as I've been stating in previous blogs I remain bearish the precious metals, however I do believe gold will remain choppy and try to consolidate the huge collapse that we saw last week. [Read more...]

Weekly Futures Recap W/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.

Precious Metal Futures-- The precious metals were mixed this week with silver futures getting hammered this Friday afternoon down $.56 at 28.65 an ounce down around $.20 for the trading week stuck in a 4 week sideways pattern which is unusual for silver to have this low of volatility for this long of a stretch still trading below its 20 day moving average which currently stands at 28.85 and far below its 100 day moving average which is at 31.65 with major support at $28 an ounce. Gold futures for the April contract my opinion are forming a rounding bottom trading higher than their 20 day moving average but below their 100 day moving average with stands at 1, 666 with major support at 1, 560 and the next resistance level which happened about 4 weeks ago at 1, 620 and if those levels are breached which I think could happen next week you will start to see the bull market come back while closing last Friday at 1, 593 up around $15 for the trading week. Copper futures for the May contract are still trading below their 20 and 100 day moving average finishing this week a positive note up around 300 points at 3.47 after settling last Friday at 3.52 down about 500 points for the week but coming off weekly lows which were hit at 3.40 which also created an 8 month low and I am scratching my head wondering why copper prices keep going down the housing market is doing so well if you look at lumber prices they are right near contract highs and the stock market continues to rally basically on a daily basis which I would think will start to lend support in the copper market and I do believe you should start taking advantage of these weak prices. [Read more...]

Weekly Futures Recap W/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.

Grain Futures--- The grain market continues its bearish momentum this week with wheat trading below its 20 and 100 day moving average settling last Friday at 7.19 a bushel hitting 8 month lows this week and at one point actually cracked $7 a bushel currently trading right around 7.13 up slightly this Friday afternoon and as I’ve stated in many previous blogs I am extremely bearish and I think prices will head sharply lower from these levels possibly hitting the $6 level where they were before the drought took place last year with excellent crops around the world and renewed moisture in the Great Plains in the last week with heavy snow and rains. [Read more...]

Weekly Futures Recap W/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.

Grain Futures-- Grain futures were mixed this week in a volatile trade with soybeans higher again for the 5th straight day up 28 cents at 14.83 in early trade only then to sell off tremendously to finish lower by 24 cents for the session closing at 14.31 after hitting a new 5 month high this Friday all due to the fact that the Argentina soybean crop was reduced 5% this week down from 53 MMT all the way to 50 MMT sparking massive short covering and now the large speculators getting long this market to the upside. Last Friday soybeans for the July contract settled at 13.99 having one of its best weekly gains in quite some time while corn futures are still below their 20 & 100 day moving average in the March contract settling at 6.95 last Friday basically unchanged for the trading week in a sideways pattern with major support at the 8 month lows at 6.80 and as I’ve stated in many previous blogs I am bearish the corn and wheat market and the soybean market is extremely choppy with many false breakouts including today. [Read more...]

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