Tag: Futures Trading

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 July contract settled last Friday in New York at 16.40 an ounce while trading at 16.83 up about 40 cents for the trading week. It remains in a very choppy trend as prices are trading right at their 20-day but still below their 100-day moving average which stands at 17.46 as I'm currently not involved in this commodity. The U.S dollar is down another 60 points hitting a 7 month low, and that is helping support the precious metals and the commodities in general. Silver has been relatively volatile with big upswings, and big downswings so wait for better chart structure to develop and a true trend as well. Historically speaking I still believe silver prices are relatively cheap and that the downside is limited as the volatility should be to the upside in my opinion with prices right near a 3 week high. Prices bottomed out 2 weeks ago around the $16 level which was also major support as we had tested that level multiple times in December. It looks to me that silver prices are headed higher, but the risk/reward needs to be in your favor which at this time is not.
TREND: LOWER
CHART STRUCTURE: SOLID
Continue reading "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 1,226 an ounce while currently trading at 1,230 down about $4 for the trading week and is still hovering right near a 7 week low. I'm currently sitting on the sidelines at present. As I've written about in previous blogs, I remain bearish on gold, and I think the stock market will continue to move higher. If you are short a futures contract, I would place your stop above the 10-day high which stands at 1,272 as the chart structure will start to improve later next week, therefore, lowering the monetary risk. Gold prices are still trading under their 20 and 100-day moving average is telling you that the short-term trend is lower as volatility is relatively low. I don't expect that to continue for much longer as generally speaking volatility starts to increase in the summer months for the commodity markets. The precious metals have been on the defensive over the last couple of months as silver and platinum are also right near multi-month lows as the commodity markets remain extremely choppy and have been over the last 6 months.
TREND: LOWER
CHART STRUCTURE: POOR - IMPROVING
Continue reading "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 are up 60 cents this Friday afternoon in New York currently trading at 46.10 a barrel breaking the low that was hit on March 27th at 47.63 this week. I think prices could re-test the November low around the $42 level as the trend remains to the downside. Crude oil prices are trading under their 20 and 100-day moving average as the precious metals & the entire energy sector continue to be under pressure over the last several weeks. My only recommendation is a short natural gas position. The chart structure in crude oil is not that great, and I will wait for the monetary risk to be lowered. I'm certainly not advising any type of bullish position as this markets trend is negative and coupled with the fact of very poor fundamentals as worldwide supplies are massive as now the problem could be waning demand. Oil prices traded above $53 in mid April as prices have now dropped about $7 a barrel rather quickly, so let's keep a close eye on this market for a possible short position in the coming days ahead.
TREND: LOWER
CHART STRUCTURE: POOR
Continue reading "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 1,289 an ounce while currently trading at 1,267 down about $20 for the week. I'm currently sitting on the sidelines as prices have now hit a 2 week low and my bias is to the downside. I am bullish the stock market & I think money flows are going to continue to come out of the precious metals and into the equity market and I'm looking at a short position in the next week or so. Gold prices are trading under their 20-day but still above their 100-day moving average topping out around the 1,300 level 2 weeks ago. Prices have been in rally mode in 2017 due to geopolitical tensions throughout the world. I've stated in many previous blogs these always seem to fade away and that's exactly what's happening right now as silver prices continue their decline and I think that will start to put pressure on gold prices here in the short-term. If you are bearish gold, my recommendation would be to sell at today's price level while placing the stop loss above 1,300 as an exit strategy. I will continue to sit on the sidelines as I'm waiting for better chart structure. Therefore, the monetary risk would be lowered as the risk is too high in my opinion at this point time. However, I am certainly bearish gold.
TREND: MIXED
CHART STRUCTURE: POOR

Continue reading "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 are currently trading at 1,286 an ounce after settling last Friday in New York at 1,288 basically unchanged for the trading week as I am not involved in the gold market as prices remain right near contract highs due to tensions between North Korea and the United States coupled with the fact of a weaker U.S dollar in recent weeks. Gold prices are still trading above their 20 and 100-day moving average telling you that the short-term trend is higher as we are ending the week on a positive note up about $4 as 1,300 is the main resistance and if that is broken I think we could go to levels before the U. S. election around 1,330 an ounce. At the current time I don't have any precious metal recommendations as silver is right near a 2 week low, but there is demand for gold as there is so much uncertainty in the world at this time and if you are bullish a futures position I would place the stop loss under the 10-day low standing at 1,248 which is still $40 away as the chart structure is not solid at the present time, as I do expect volatility to increase in the coming weeks as well.
TREND: HIGHER
CHART STRUCTURE: IMPROVING

Continue reading "Weekly Futures Recap With Mike Seery" →