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 today with gold in the April contract down for the 3rd consecutive day is now trading below its 20 and 100 day moving average right between the 52-week low and the 52-week high settling last Friday at 1, 693 down $37 for the week as traders are pulling money out of gold and putting it into the stock market which continues to go higher while silver futures are still trading above the 20 day moving average but below their 100 day moving average which stands at 32.67 down sharply for the 2nd consecutive day after trading higher for 8 straight sessions settling around 31.20 down over $.60 for the trading week and I still remain bullish gold and silver and in my opinion I do believe the last couple of days is just profit taking and I still see higher prices to come due to the fact of easy monetary policies remaining for 4 more years. Copper futures are still trading above the 20 and 100 day moving average very little volatility lately currently trading at 3.655 down only slightly for the week but still stuck in a sideways pattern with no trend in sight. Continue reading "Weekly Futures Recap with Mike Seery"
