Weekly Futures Recap With Mike Seery

Gold Futures

Gold futures in the December contract is currently trading at 1,509 after settling last Friday in New York at 1,457 up over $50 for the trading week hitting a 6-year high as interest rates in the United States and worldwide continue to drop precipitously weekly. China devalued its currency this week to an 11 year low against the U.S dollar as there is sheer panic worldwide that is causing gold prices to move higher as I am not involved, but I do believe higher prices are ahead.

If you are long a futures contract place the stop loss under the 2 week low standing at 1,412 as the charge structure is terrible at the current time due to the run-up in prices, however, I also have bullish recommendations in silver and platinum as money flows continue to enter into these sectors.

Gold prices are trading far above their 20 and 100-day moving average as this is probably the strongest trend besides the bond market at the current time as I see no reason to be short especially with all this worldwide uncertainty so if you are long-stay long. If you are not involved in this market, I would not chase this as that is very dangerous as you have missed the boat so move on and look at other markets that are beginning to trend with less risk.

TREND: HIGHER
CHART STRUCTURE: EXCELLENT
VOLATILITY: INCREASING

Silver Futures

Silver futures in the September contract settled last Friday in New York at 16.39 an ounce while currently trading at 16.94 up about $0.55 as prices hit a 13 month high continuing its bullish momentum following the coattails of gold which is at a 6 year high.

Interest rates around the world continue to plunge to the downside as that is a fundamental bullish factor towards silver prices as I have been recommending a bullish position from the 14.93 level and if you took the trade continue to place the stop loss at 16.08 on a closing basis only as an exit strategy. Continue reading "Weekly Futures Recap With Mike Seery"

Weekly Futures Recap With Mike Seery

Gold Futures

Gold futures settled last Friday in New York at 1,432 while currently trading at 1,448 up about $16 for the trading week experiencing a wild trading session yesterday having a $45 range rallying sharply on the close because the Trump administration is going to levy more tariffs on China.

Gold prices are trading above their 20 & 100 moving average as this is the strongest precious metal at the current time. I still believe higher prices are ahead. However, I am not involved. I do have bullish recommendations in platinum, silver, and copper as they all experiencing high volatility over the last several days.

Gold prices are trading far above their 20 and 100-day moving average as clearly this trend is strong to the upside. However, for the bullish momentum to continue, we have to break the July 19th high of 1,467 as gold prices are right near a 6 year high.

The 10-year note is yielding 1.87% as I have a bullish recommendation in that market as that is helping fuel gold prices higher as European countries and Japan have negative interest rates so money flows are coming into gold and I don't think that situation is going to change anytime soon as I see no reason to be short.

TREND: HIGHER
CHART STRUCTURE: SOLID
VOLATILITY: HIGH

Continue reading "Weekly Futures Recap With Mike Seery"

Weekly Futures Recap With Mike Seery

Silver Futures

Silver futures in the September contract settled last Friday in New York at 16.19 an ounce while currently trading at 16.42 up about $0.23 for the trading week continuing it's bullish momentum as prices are right near a 1 year high.

Fundamentally speaking the European Union looks to lower interest rates even more as that is a positive fundamental factor towards the precious metals coupled with the fact that the Federal Reserve is probably going to lower interest rates by 25 basis points next week as this market still looks to crack the 17 level.

I have been recommending a bullish position from around the 14.93 level & if you took that trade continue to place the stop loss which now stands at 15.34 which is the 2 week low, however, the chart structure will improve daily next week therefor the monetary risk will be reduced significantly.

I also have bullish recommendations in platinum and copper as I think the precious metals across the board is headed higher so stay long and continue to place the proper stop loss as I still believe there is significant room to run to the upside.

TREND: HIGHER
CHART STRUCTURE: IMPROVING
VOLATILITY: HIGH

Palladium Futures

Palladium futures in the September contract is currently trading at 1,537 after settling last Friday at 1,508 up nearly $30 for the trading week as I had been recommending a bullish position from around the 1,388 level getting stopped out around the 1,525 level last week, however I'm looking at the possible bullish position soon. Continue reading "Weekly Futures Recap With Mike Seery"

Weekly Futures Recap With Mike Seery

Gold Futures

Gold futures in the August contract is currently trading higher by $12 at 1,440 an ounce after settling last Friday in New York at 1,412 up about $28 hitting a new 6 year high as this market looks to test the 1,500 level in the coming weeks ahead in my opinion.

I'm not involved in gold, but I have bullish positions across the board in the precious metals as I still think gold prices continue to March higher and if you are long a futures contract place the stop loss under the 2 week low which stands at 1,384 as an exit strategy.

Gold prices are trading far above their 20 and 100-day moving average as this trend is strong to the upside as silver prices are up over $0.40 today and still looks very cheap compared to gold prices.

Volatility in gold has accelerated as that is here to stay in my opinion as I think strong demand will continue to support gold and the precious metals across-the-board as U.S. interest rates remain at extremely low levels which is bullish towards the commodity markets.

When you trade the commodity markets finding the trend is the most important aspect as the precious metals have now developed into strong trends as you should have bullish positions, not bearish positions as that would be counter-trend trading.

TREND: HIGHER
CHART STRUCTURE: IMPROVING
VOLATILITY: HIGH

Continue reading "Weekly Futures Recap With Mike Seery"

Weekly Futures Recap With Mike Seery

Silver Futures

Silver futures in the September contract is currently trading at 15.22 an ounce after settling last Friday in New York at 15.00 higher by about 22 cents continuing its bullish momentum. Volatility is very low as the rest of the precious metals sector is having tremendous price swings daily as I am shocked that silver hasn't joined the party, but I think it will and if your patient enough I still think higher prices are ahead.

I have been recommending a bullish position from around the 14.93 level, and if you took the trade, I'm going to continue to keep the stop at 14.70 as we need to give this trade some room. Silver prices are trading right at their 20 and 100-day moving average, however for the bullish momentum to continue we have to break the June 21st high of 15.62 as that could happen on any given day, especially if the volatility increases.

I also have bullish recommendations in platinum, palladium, and copper, as demand has come back into this sector as the commodity markets have bottomed out my opinion as most of my recommendations have been to the long side which is the path of least resistance.

TREND: HIGHER - MIXED
CHART STRUCTURE: EXCELLENT
VOLATILITY: LOW

Continue reading "Weekly Futures Recap With Mike Seery"