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 June contract is currently trading lower by $0.15 at 71.35 a barrel after hitting a fresh 4-year high earlier in the week at 72.30 as profit-taking has come about. However, this market remains bullish in my opinion. If you are long a futures contract continue to place the stop loss under the 2-week low standing at 67.63 as you will have to roll over into the July contract in the next couple of days as the stop loss will be changed, but I do think higher prices are ahead. One of the main reasons why this market has turned bullish is the fact that Venezuela has turned into a complete nightmare as that socialist country has utterly imploded over the last several months as they are not producing near as much oil as they used to, therefore, supply concerns in the short term are at hand. If you take a look at heating oil and unleaded gasoline they are both hitting multi-year highs in today's trade as the whole sector is extremely bullish so continue to play this to the upside & if you're not involved in the market wait for some profit-taking before entering into a bullish position, therefore, lowering the monetary risk. Oil prices have probably been the strongest trend in 2018 as we are trading far above their 20 and 100-day moving average as the volatility remains relatively low except for last week when President Trump revoked the Iranian deal as the fundamental and technical picture remains bullish in my opinion so stay long & continue to place the proper stop loss.
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.

Gold Futures

Gold futures in the June contract settled last Friday in New York at 1,314 an ounce while currently trading at 1,321 up about $7 for the trading week still experiencing low volatility. At the present time I'm not involved in any of the precious metals but does look to me that gold may have bottomed out around the 1,300 level as that was tested on a half-dozen occasions while rallying every single time as I think the fact that crude oil prices are now at a 4 year high that will start to support the precious metals which still look cheap historically speaking. The U.S. dollar hit a four month high this week as that has been the main culprit pushing prices lower as the Iran deal was revoked and I think that will be a fundamental bullish indicator for gold and the precious metals down the road. The chart structure at the current time is improving as gold prices are at a two week high as we could be involved relatively soon, but at the current time prices are still trading under their 20 and 100-day moving average as the trend is lower to mixed in my opinion. Money flows were coming out of the European countries and into the U.S dollar on fears of the Iranian deal being reversed and that has now happened as it could be "buy the rumor and sell the fact" as the U.S. dollar sold off over the last 2 trading sessions stopping the bleeding in gold prices so be patient & let's see what next week's trade brings.
TREND: MIXED
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.

Natural Gas Futures

Natural gas futures in the June contract settled last Friday in New York at 2.77 while currently trading at 2.72 experiencing extremely low volatility. I have been recommending a bullish position over the last couple weeks from the 2.83 level and if you took the trade continue to place the stop loss which is just an eyelash away at 2.70 on a closing basis only. The energy sector has caught fire in today's action as oil has hit a fresh multi-year high but is having very little impact on natural gas prices as mild temperatures throughout the Midwest are curbing demand at this time, but stay long and do not second guess as this was a low-risk trade to begin with. Natural gas prices are now trading under their 20 and 100-day moving average as the trend is mixed, and if we are stopped out, we could be involved relatively soon again as the chart structure is outstanding. I remain bullish this commodity. However, we must have an exit strategy when you trade the commodity markets. Volatility in natural gas should start to expand as we enter the hot summer months as this has been stuck in the mud over the last several months as I still think historically speaking prices look cheap.
TREND: MIXED - LOWER
CHART STRUCTURE: EXCELLENT
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 May contract settled last Friday in New York at 17.16 an ounce while currently trading at 16.45 hitting a two week low finishing down about $0.70 for the trading week all due to the fact that the U.S. dollar hit a four-month high today putting pressure on the whole precious metal sector. I had been recommending a bullish position from the 16.85 level getting stopped out in yesterday's trade. That was disappointing as I truly thought silver prices had broken out, but the strength in the dollar really put the kibosh on this trade so I will sit on the sidelines and wait for another trend to develop. Silver prices are now trading below their 20 and 100-day average as the short-term trend is lower, however, it really is mixed as we continue to trade between 16/17 over the last several months as the volatility has picked up which is a good thing to see. I will not give up on this commodity as I still think we will be trading in the $20 range come year end, but at the current time, we are range bound. Presently I do not have any trade recommendations in the precious metals as they all remain on the defensive as they will bottom out soon in my opinion. Look at other markets that are beginning to trend as I hate to trade choppy markets as they are very difficult to trade successfully.
TREND: MIXED
CHART STRUCTURE: POOR
VOLATILITY: INCREASING

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.

Crude Oil Futures

Crude oil futures in the June contract settled last Friday in New York at 67.33 a barrel while currently trading at 68.35 up about a $1 for the trading week hitting a 3 1/2 year high & in yesterdays trade prices went up as high as 69.55 before profit-taking ensued. I'm currently not involved in this market as the chart structure is terrible as the 10 day low stands at 62.01 as the monetary risk is too high, however, I am certainly not recommending any type of short position as this trend is strong as the fundamental and technical picture remains bullish. Strong demand for crude oil and the entire energy sector continues to push prices higher as I still think we will trade above the $70 level in the weeks ahead as global supplies have dwindled over the last year due to the fact that worldwide economies are improving which is a terrific thing to see in my opinion. Crude oil prices are clearly trading above their 20 and 100-day moving average as this has now become one of the strongest trends in 2018 as I think this will start to support the precious metals and the agricultural market down the road. I'm looking at a commodity rally to finish out the 2nd half of 2018 as the Trump tariffs talks have finally subsided and I do think that the U.S. dollar which remains choppy at the current time will drift lower in the future helping supporting prices.
TREND: HIGHER
CHART STRUCTURE: POOR
VOLATILITY: INCREASING

Continue reading "Weekly Futures Recap With Mike Seery"