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 December contract settled last Friday in New York at 1,255 an ounce while currently trading at 1,267 slightly higher for the trading week as gold remains relatively nonvolatile at the current time. Presently I am sitting on the sidelines as I’m not involved in any of the precious metals as prices are stuck in a 3 week sideways consolidation pattern. The U.S dollar is now hitting a 8 month high which is certainly not bullish the precious metals as it looks to me that the dollar will try to touch 100 in the coming weeks. I still believe that many of these markets will go sideways until the U.S election is finished which is still around 3 weeks away so be patient as there are still very few trends except in the grain market which is where my focus is at present. Rumors are circulating that the Federal Reserve might raise interest rates in the month of December and that is why the U.S dollar continues to move higher keeping a lid on many commodity prices here in the short-term. However, we have seen this story before.
TREND: LOWER
CHART STRUCTURE: EXCELLENT 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.

Cotton Futures

Cotton futures in the December contract is now trading above its 20 and 100-day moving average for the first time since last summer as prices spiked higher off of the USDA crop report stating that ending stocks currently stand at 4.3 million bales and that is down 12% from the September report sending prices to a 2 week high. At present, I’m sitting on the sidelines in this market as there is no trend, but it does look to me that a possible bottom has been created as prices settled last Friday in New York at 66.98. It's currently trading at 69.65 up about 300 points for the trading week despite the fact that the U.S dollar has now hit an 8 month high and a 31 year high against the British Pound which is generally a negative influence on commodity prices. Harvest is in full swing in the southern part of the United States as there were concerns about Hurricane Matthew potentially damaging yields as the next report will state if that situation is true. 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 December contract settled last Friday in New York at 1,317 while currently trading at 1,256 down about $60 for the trading week hitting a 4 month low all due to the fact that the U.S dollar is hitting a 31 year low against the British Pound pushing prices lower. Gold is trading below its 20 and 100-day moving average telling you that the short-term trend clearly is to the downside as prices are retesting the Brexit low which happened in late June with the next major level of resistance is between 1,200/1,220 in my opinion. At the current time, I’m not involved in gold or silver, but I’m not recommending any type of bullish scenario as I do think lower prices are ahead as I do not like to counter trend trade as over the course time that is very dangerous. 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 December contract settled last Friday in New York at 1,341 an ounce while currently trading at 1,329 down about $12 for the trading week as this chart pattern is very similar to the silver chart as prices continue to go sideways waiting for some fresh fundamental news to dictate short-term price action. Gold prices are trading at their 20-day but still above their 100-day moving average as this market basically have been flip-flopping around due to the Federal Reserve doing an interest rate hike or not as I think that will continue for quite some time so avoid this market at the present time. The next major level of support is around 1,305 & if that is broken, you would have to think that the bearish trend would be underway. 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 December contract settled last Friday in New York at 1,310 an ounce while currently trading at 1,345 up about $35 for the trading week remaining extremely choppy as prices have gone nowhere over the last 3 months. Earlier in the week the Federal Reserve made comments that they will not raise interest rates as prices held major support around the 1,310 level and now looks to retest the upper end of the trading range around 1,360 as I’m currently sitting on the sidelines waiting for a trend to occur. Gold prices are trading above their 20 and 100-day moving average telling you the short-term trend is higher as the commodity markets in general in my opinion look to be bottoming. I see the next move to the upside across-the-board as the Federal Reserve, in my opinion, will not raise rates in 2016 as they want to see asset prices go higher. Continue reading "Weekly Futures Recap With Mike Seery" →