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 above their 20 & 100 day moving average telling you that trend has turned higher after settling last Friday at 1,303 going out today at 1,318 up $15 dollars for the trading week as money flowed out of stocks and into bonds and gold. I am neutral in the gold market currently so I’m not recommending any position as the trend is not strong as the chart structure in gold is poor as well which does not allow you to place tight stops minimizing your risk so wait for better chart pattern to develop before entering a new position. If your bullish gold prices look at bull call spreads possibly for the month of June or if you’re bearish look at a bear puts spreads for the month of June limiting your risk to what the premium costs.
TREND: HIGHER
CHART STRUCTURE: POOR
