Tag: Old Crop

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 1,323 an ounce while currently trading at 1,336 as I was recommending a short position getting stopped out in Tuesday's trade around the 1,347 level as gold prices rallied sharply off of the monthly unemployment number which was released last Friday. I’ve been recommending a short position from around 1,333 and added more contracts around the 1,320 level as this was a frustrating trade as prices traded as low as 1,307 earlier in the week as this market remains very choppy as I’m now sitting on the sidelines looking at other markets that are beginning to trend. Gold prices continue to react off what the Federal Reserve says and what the most recent rumor developing so avoid this market at present as there is no trend as who knows where interest rates are going at this time. 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 June contract settled last Friday in New York at 43.73 a barrel while currently trading at 45.73 up about $2 for the trading week hitting a five-month high which has been a very impressive rally over the last 3 months. Crude oil prices are trading above their 20 and 100-day moving average telling you that the short-term trend is higher. However, I have been sitting on the sidelines as the chart structure has not been terrific over the last several months as I do think there is a top in the near future as I think prices can retest $50, but if that happens production will start to come back online. The U.S dollar continues to move lower as that has definitely helped crude oil prices rally about $17 over the last 3 months as the next major level of resistance is around $48. 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 April contract settled last Friday in New York at 38.50 a barrel while currently trading 40.65 up over $2 for the trading week now trading above its 20 and 100-day moving average for the first time in 6 months. The selloff in the U.S dollar has pushed up oil prices tremendously over the last several weeks. Oil prices are trading higher for the 3rd consecutive day; however this rally has been based on very low volume which is a little concerning as I'm sitting on the sidelines in this market as I have missed the rally to the upside. The U.S dollar has hit a 6 month low and that has propped up many commodity prices and especially crude oil as gasoline and heating oil also have rallied substantially. You will notice this at your local gas station as you are paying much more than you were just three or four weeks ago as the tide has turned in the commodity markets. Rumors are circulating that Saudi Arabia is going to urge OPEC to start cutting production, therefore, pushing up prices even higher as their economy is struggling due to low prices. Continue reading "Weekly Futures Recap With Mike Seery" →