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.

Gold Futures

Gold futures in the February contract is currently trading at 1,252 after settling last Friday in New York at 1,226 up about $26 for the trading week breaking out to a five-month high. Money flows are coming out of the U.S equity market which is sharply lower once again today while now entering the precious metals across the board as I am looking closely at a bullish position in silver as well as it seems to me that the precious metals are going higher. I am now recommending a bullish position from around the 1,252 level and if you're going to take this trade place the stop loss under the 10-day low which now stands at 1,216 as the risk is around $3,600 per large contract plus slippage and commission or about $800 per mini contract. Gold prices are trading above their 20 and 100-day moving average as the trend is clearly to the upside as this commodity is used as a flight to safety as investors are getting spooked by the volatility in the S&P 500 while taking money out of that sector and heading into gold. The chart structure will start to improve later next week as the monetary risk will also be lowered as the volatility remains relatively low with the next major level of resistance all the way up around the 1,275 level as I think there is room to run as I have not recommended a gold position for quite some time
TREND: HIGHER
CHART STRUCTURE: IMPROVING
VOLATILITY: LOW

Continue reading "Weekly Futures Recap With Mike Seery"

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 December contract is trading higher for the 3rd consecutive session up another $0.07 at 14.33 an ounce after settling last Friday at 14.14 up nearly $0.20 for the trading week. Silver prices hit a contract low on November 14th at 13.86 as we are right near a three year and ten year low as the strong U.S. dollar has undoubtedly put pressure on this commodity as I am currently sitting on the sidelines waiting for a trend to develop. Silver prices are trading under their 20, and 100-day moving average as the trend is to the downside, but this market has been very choppy over the last several months in a directionless trend. I'm advising clients to avoid silver and look at other markets that are beginning to trend as I still believe we will have bullish trends come 2019 as I think demand will come back to many commodities sectors, but I don't see anything developing in silver for the next several months. Gold prices are also still hovering around the 1,200 level as that is also experiencing a choppy to lower trend as the precious metals need a weaker dollar not a stronger dollar & until that happens prices will remain depressed.
TREND: LOWER
CHART STRUCTURE: SOLID
VOLATILITY: LOW

Continue reading "Weekly Futures Recap With Mike Seery"

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.

Gold Futures

Gold futures in the December contract settled last Friday in New York at 1,233 an ounce while currently trading at 1,211 down over $20 for the trading week as the precious metals across the board look to move lower in my opinion. Gold prices are trading below their 20 and 100-day moving average as the trend has turned negative because the U.S. dollar is right near another contract high as interest rates in the United States are on the rise and should continue to climb into 2019. If you are bearish, I would place the stop loss at 1,239 as an exit strategy as it looks to me that prices will retest the 1,195 level possibly in next week's trade as the commodities across the board look very week as now everything is following crude oil to the downside. Silver prices are down over $0.25 today as it looks like that will retest their contract low of 13.96 possibly in next weeks trade as that is also putting pressure on gold as the only bullish commodity is the S&P 500 which reacted very positively to the midterm elections. Volatility in gold is starting to increase and remember if you're trading a smaller account you can trade the mini contract which is 1/3 of the size of the large contract, therefore, reducing the monetary risk.
TREND: LOWER
CHART STRUCTURE: SOLID
VOLATILITY: AVERAGE

Continue reading "Weekly Futures Recap With Mike Seery"

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.

Gold Futures

Gold futures in the December contract settled last Friday in New York at 1,235 an ounce while currently trading at 1,233 unchanged for the trading week hitting a three week low in Wednesday's trade before rallying sharply yesterday because the U.S. dollar was down 90 points. I'm sitting on the sidelines as this market remains extremely choppy with no trend even though we are trading above their 20 and 100-day moving average as gold prices have been supported by the breakout which has occurred in the platinum market which is also higher once again in today's trade. The next major level of resistance is around the 1,245 level as that has to be broken for the bullish momentum to continue. I still have a bullish bias towards the U.S. dollar despite the recent setback so keep an eye on this market while looking at other commodities that are beginning to trend as many of the sectors have come to life. Volatility in gold is average at the current time as we are experiencing $20 up and down days, but that's pretty normal for this market over the course of time and remember if you have a smaller account you can always trade the mini contract which is 1/3 of the large contract.
TREND: MIXED
CHART STRUCTURE: POOR
VOLATILITY: AVERAGE

Continue reading "Weekly Futures Recap With Mike Seery"

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.

Gold Futures

Gold futures in the December contract is currently trading at 1,238 after settling last Friday in New York at 1,228 up about $10 for the trading week hitting a three month high while still experiencing extremely low volatility. I have a bullish bias towards gold as I am also recommending a bullish position in silver as the U.S. stock market has fallen out of bed in recent weeks and is down nearly 500 more points in today's trading session as money flows are coming out of equities and into the precious metals. If you are long a futures contract, I would place the stop loss at the two week low as an exit strategy which stands at 1,221 as I do believe higher prices are ahead. I don't think the washout in the stock market is finished at this time. Gold prices are trading above their 20 and 100-day moving average as the trend is to the upside with the next major level of resistance at 1,250, and if that is broken, I think we can head up to 1,270. I do believe volatility will start to increase substantially to the upside as gold is used as a flight to quality and that could happen in next week's trade so if you are long stay long in my opinion.
TREND: HIGHER
CHART STRUCTURE: EXCELLENT
VOLATILITY: LOW

Continue reading "Weekly Futures Recap With Mike Seery"