Tag: Futures Trading

Weekly Futures Recap With Mike Seery

Posted on by The INO.com Team

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 August contract settled last Friday in New York at 1,256 an ounce while currently trading at 1,256 in a pretty uneventful trading week. I'm not currently involved in this market, but I'm looking at a possible short position in next week's trade. Gold prices hit a 5-week low in Wednesday's trade. However, the 10-day high stands at 1,284 which is a little too far away in my opinion so I will wait for the chart structure to tighten up with a rally or a couple more days off the calendar then I will be looking at getting short. I'm still bearish gold and the precious metals in general. The next major level support is at 1,225 with prices trading right at their 20 & 100-day moving average telling you that there is no trend at this time. The commodity markets, in general, remain weak except for the stock market which continues to move higher. I am also recommending a bullish position in the Dow Jones as I still think money flows will enter that market & out all the gold market in the coming weeks, so keep a close eye on this market for a possible short position.
TREND: MIXED
CHART STRUCTURE: IMPROVING
Continue reading "Weekly Futures Recap With Mike Seery" →

Weekly Futures Recap With Mike Seery

Posted on by The INO.com Team

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 prices settled last Friday in New York at 1,271 an ounce while currently trading at 1,256 down about $15 for the trading week and topping out at the 1,300 level. The Federal Reserve announced that they raised interest rates a .25 point and plan on raising interest rates further down the road and this sent gold prices to a three-week low. I am not involved in any of the precious metals as they have been incredibly choppy in 2017 and the monetary risk and the risk/reward has not met my criteria as prices are now trading below their 20 and 100-day moving average. I'm advising clients to avoid this sector and gold at the present time. The commodity markets, in general, remain weak in my opinion except for a select few with the stock market continuing to move higher taking money flows out of the gold and moving them into the Dow Jones once again. I think that trend will continue despite the terrorist attacks happening on a weekly basis coupled with uncertainty worldwide. Prices seem to have one more leg lower to the downside with a possible retest of 1,215 in my opinion. Silver prices this week also went into the negative as those prices remain extremely choppy as well, but one day the trends will come back in the metals so keep a close eye on this market & wait for the chart structure to improve.
TREND: MIXED - LOWER
CHART STRUCTURE: POOR
Continue reading "Weekly Futures Recap With Mike Seery" →

Weekly Futures Recap With Mike Seery

Posted on by The INO.com Team

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 settled last Friday in New York at 47.66 a barrel while currently trading at 45.55 down about $2 for the trading week, but still trading under their 20 and 100-day moving average as prices are looking to retest the May 5th low of 44.13 in my opinion. The longer-term and short-term trend is to the downside as large supplies continue to keep a lid on prices. Gasoline and heating oil also continue to move lower, and my only recommendation in the energy sector is short the natural gas market at this time. The chart structure in oil is poor as the 10-day high is around $52 which is over $6 away. I'm currently waiting for the monetary risk to be lowered and I am looking at a short position possibly in next week's trade. There are concerns about gasoline demand which has also pushed oil lower over the last several weeks, but this market has been very choppy in 2017 as the volatility in the commodity markets are starting to rise once again as the summer months are upon us and historically speaking this is when you see large price swings up or down.
TREND: LOWER
CHART STRUCTURE: POOR
Continue reading "Weekly Futures Recap With Mike Seery" →

Weekly Futures Recap With Mike Seery

Posted on by The INO.com Team

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 August contract settled last Friday in New York at 1,271 an ounce while currently trading at 1,278. up about $7 for the trading week hitting a five-week high looking to retest the April 14th high of 1,300 in my opinion. The U.S dollar continues its bearish trend down another 45 points this afternoon helping push up the precious metals and especially gold, which looks very strong at the current time. If you are in a bullish position place your stop loss at the 10-day low at 1,250 as lower interest rates in the United States continue to support gold prices. Gold is trading above its 20 and 100-day moving average is telling you that the short-term trend is higher as several terrorist attacks throughout the world over the last week or so continue to prop up prices despite the U.S stock market continuing to hit all-time highs. Both markets are going higher together which does not happen very often. However, this could be a special situation. If the $1,300 level is broken the next major level of resistance is last year's high around the 1,350 level so there could still be room to run to the upside and if you're involved make sure your risk 2% of your account balance on any trade as an exit strategy.
TREND: HIGHER
CHART STRUCTURE: SOLID
Continue reading "Weekly Futures Recap With Mike Seery" →

Weekly Futures Recap With Mike Seery

Posted on by The INO.com Team

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 are trading higher by $10 this Friday afternoon after settling last Friday at 1,253 while currently trading at 1,267 up about $14 for the trading week and hitting a four-week high. Gold is trading above its 20 and 100-day moving average telling you that the short-term trend is to the upside as a weaker U.S dollar coupled with a terrorist attack this week helped propel prices higher. The next major level of resistance is at 1,275 & if that is broken, I would have to think that prices will retest the April 17th high of 1,297 as this is one of the only few bullish trends out of the commodity sectors. I am not involved in this market at present as the chart structure remains poor. The U.S dollar is right near a seven-month low as that has certainly helped gold prices come off recent lows as that trend seems to be strong to the downside. The stock market hit all-time highs once again in Thursday's trade having very little effect on gold prices as money flows seem to be going into both sectors which is very unusual, but can happen periodically with investors being interested in both sectors. In my opinion, I still believe gold prices are limited to the upside as all the excitement is in the equity markets, but there are so many problems worldwide right now that prices are supported in the short term.
TREND: HIGHER
CHART STRUCTURE: POOR - CHOPPY
Continue reading "Weekly Futures Recap With Mike Seery" →