Tag: gold futures

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 1,172 an ounce while currently trading at 1,201 an ounce rallying sharply on rumors of a Greece exit possibly happening over the weekend sending prices sharply higher as I was recommending a short position from around the 1,170 level getting stopped out in yesterday’s trade losing around $30 or $1,000 per mini contract plus slippage and commission.

Janet Yellen and the FOMC committee did not raise interest rates earlier in the week sending gold sharply higher hitting a 3 week high but I still remain skeptical of this rally as a deal with Greece will occur in my opinion as the stock market still remains strong keeping money out of the gold market in the short term. 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 in the July contract are trading lower for the 2nd consecutive day trading at 59.90 a barrel down over $.90 this Friday afternoon in New York after settling last week at 59.13 up slightly for the trading week. Oil futures have been in a trading range between $57 – $62 over the last month as I’ve been recommending a short position when prices broke the $58 level and if you took that trade continue to place your stop on a closing basis at 61.75 as we were almost stopped out in Wednesdays trade as we’re still hanging in there by the skin of our teeth. 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 in the July contract are currently trading at 58.50 after settling last Friday in New York at 60.30 as I’ve been recommending a bearish position when prices broke the $58 dollar level and if you took that trade continue to place your stop loss above the 10 day high which currently stands at 61.60 risking $3 or $1,500 per mini contract plus slippage and commission. Crude oil futures are trading below their 20 day moving average as prices have remained very choppy in recent weeks as the chart structure will not improve until later next week so you will have to be patient and stick to the rules. 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 exploded this Friday afternoon in New York trading higher by $2.60 a barrel currently at 60.26 reversing recent losses as yesterday prices hit a 6 week low and traded down to $56.51 rallying $5 since as there are rumors of facilities being shut down due to the Texas and Oklahoma floods but time will tell to see if that’s actually true. Crude oil futures are now trading above their 20 and 100 day moving average showing high volatility as I’ve been recommending a short position when prices hit a four week low around the $58 level and if you took that trade we are underwater currently so place your stop loss above the 10 day high which remains at 61.75 risking around $1.50 or $750 per mini contract plus slippage and commission from today’s price level. 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 60.54 a barrel in July contract while currently trading at 59.72 down about $1.00 this Friday afternoon trading below its 20 day but above its 100 day moving average as the trend currently is mixed. I will be recommending a short position if oil breaks $50 a barrel then placing your stop loss above the 10 day high but at the current time I’m sitting on the sidelines waiting for a breakout to occur as the U.S dollar was up 300 points this trading week reversing much of its recent losses putting pressure on many commodity prices in the last several days. Sometimes as a trader the best thing to do is sit on the sidelines and be patient and wait for a trend to develop as this market could be headed to the downside in my opinion next week so keep a close eye on this market as a possible trade is coming. Continue reading "Weekly Futures Recap With Mike Seery" →