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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.

Mexican Peso Futures

The Mexican Peso in the September contract settled last Friday at 5462 while currently trading at 5460 basically unchanged for the trading week while trading lower for the 2nd consecutive day down about 50 points this Friday afternoon as I am looking at entering into a bullish position come Monday’s trade. The 10 day low at the present time stands at 5305 which is risking around $900 per contract plus slippage and commission but come Monday’s trade that will be raised to 5358 risking less than $500 per contract plus slippage and commission as I will be patient and look for an entry point come Monday morning. The Peso is trading above its 20 and 100-day moving average telling you that the short-term trend is higher as I think this recent pullback in price is due to the tremendous rally we’ve had in the month of August as I still think the bullish trend is still intact. [Read more...]

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 September contract settled last Friday in New York at 41.60 a barrel while currently trading at 41.10 basically unchanged for the trading week as I’ve been sitting on the sidelines in this market for quite some time as prices are right near a 4 month low. Prices have dropped about $10 over the last 2 months as massive supplies continue to hamper prices as I still think a bottom has not been created and if you are short this market my stop loss would be above the 10 day high which stands at 43.39 as prices are still trading below its 20 and 100-day moving average telling you that the short-term trend is lower. At present I have very few trade recommendations as I took the month of July off, but I am keeping a close eye on many different sectors as I think we will be involved in many trades very soon. The trend is lower and as the commodity trader I always believe that must be a trend follower as trading with path of least resistance is the most successful way to trade over the course of time. [Read more...]

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 August contract settled last Friday in New York at 48.56 a barrel while currently trading at 47.71 down about $1 for the trading week while selling off $2.50 this Friday afternoon. The U.S dollar is up over 200 points putting pressure on oil and the commodity sector as a whole. Crude oil prices are trading below their 20 day but still above their 100-day moving average telling you that the short-term trend is mixed as I’m currently sitting on the sidelines looking for a possible short entry in next week’s trade. Crude prices are retesting last week’s low as a possible top has been created as the Brexit situation is spooking many different markets including stock markets around the world as demand could start to wane over the next several months. The commodity markets do not like uncertainty and no one really knows how this Brexit situation will develop, but I always look at risk/reward scenarios as I do think prices may have topped out in the short-term so be patient and wait for the entry criteria to come about. [Read more...]

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 July contract settled last Friday in New York at 49.07 while currently trading at 47.15 a barrel down about $2 for the trading week all based on Great Britain leaving the EU, therefore, sending oil prices lower. Crude oil prices are trading below their 20 but still above their 100-day moving average telling you that the short-term trend is mixed as prices are hovering right near a 6 week low as I don’t like to trade choppy markets. At the current time, I’m sitting on the sidelines waiting for better chart structure to develop as I just don’t know where prices are headed so look at other markets that have stronger trends like the soft commodities. Last week rig counts actually increased for the first time in several months because of the fact that crude oil hit $50, so production is coming back online as that is the problem with this market as the higher prices go, the more production occurs sending prices lower. I think we will remain choppy until the Brexit situation is resolved which is still over a week away. [Read more...]

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.

Silver Futures

Silver futures in the September contract settled last Friday in New York at 16.41 an ounce while currently trading at 17.35 up about 95 cents for the trading week. I’m now recommending a bullish position while placing the stop loss under the 10 day low which stands at 15.89 risking around $1.50 or $1,500 per mini contract plus slippage and commission as the chart structure will start to improve early next week. Silver prices are trading above their 20 and 100-day moving average telling you that the short-term trend is higher as interest rates around the world are hitting historic lows sending shockwaves into many markets especially the bond sector as traders are now interested in the precious metals once again as gold prices have surged as well. Negative interest rates around the world are starting to make investors skittish as they are looking for a place to hide money and that at the current time is the precious metals. I do think gold and silver prices [Read more...]

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