Tag: Futures Trading

Gold Futures

Gold futures in the February contract is currently trading at 1,516 an ounce after settling last Friday in New York at 1,480 up about $36 for the trading week hitting a 7-week high as the commodity markets are starting to follow the S&P 500 to the upside.

I have been recommending a bullish position from around the 1,495 level if you took that trade continue to place to stop loss under the 10-day low standing at 1,474 as an exit strategy as the chart structure will also improve next week as the risk will also be lowered. Gold prices are trading above their 20 and 100-day moving average telling you that the trend is to the upside with the next major level of resistance on the daily chart at 1,525 / 1,550 as that could possibly be tested in next week's trade. Gold is trading higher for the 4th consecutive session as

I also have a bullish silver trade as I think the commodity markets in 2020 will have a significant rally to the upside as historically speaking, prices look cheap. The U.S. dollar is hovering right near a 4 month low as that is a bullish factor towards higher gold prices as this is the 1st time in a while that the precious metals and stock market are moving higher in unison which is a terrific thing to see so stay long.

TREND: HIGHER
CHART STRUCTURE: SOLID
VOLATILITY: AVERAGE

Silver Futures

Silver futures in the March contract settled last Friday in New York at 17.22 an ounce while currently trading at 18.01 up for the 6th consecutive session hitting a 7-week high.

I have been recommending a bullish position from around the 17.45 level, and if you took that trade, continue to place the stop-loss at 16.56 as an exit strategy. The U.S. dollar is trading right near a 4 month low as that is a fundamental bullish factor for the entire precious metal sector in the coming weeks ahead. Continue reading "Weekly Futures Recap With Mike Seery" →

Silver Futures

Silver futures in the March contract is currently trading at 17.23 an ounce in a tranquil Friday afternoon in New York as the holiday markets are upon us as that generally lowers the volatility. I'm keeping a close eye on a possible bullish position as silver prices have been stuck in a very tight 6-week consolidation. If prices break the December 4th high of 17.41, I will be recommending a bullish position as I think the commodity markets in 2020 will experience significant rallies to the upside.

At the current time, silver is trading right at its 20-day but still below its 100-day moving average, which stands around the 17.59 level as I think we will probably go sideways for the rest of this month. However, I do expect the volatility to increase substantially in January.

I do not have any precious metal recommendations, but I do believe that platinum and palladium are still bullish and will head higher. I think silver will join the party eventually, so keep a close eye on this market as we could be involved soon as the risk/reward is in your favor due to the excellent chart structure.

TREND: MIXED
CHART STRUCTURE: EXCELLENT
VOLATILITY: LOW

S&P 500 Futures

The S&P 500 in the March contract is continuing its bullish momentum ending the week on a positive note up another 15 points at 3227 after settling last Friday in Chicago at 3175 up over 50 points for the week and hitting another all-time high. This gravy train continues, and I see absolutely no reason to be short this market. Continue reading "Weekly Futures Recap With Mike Seery" →

Hog Futures

Hog futures in the February contract settled last Friday in Chicago at 67.55 while currently trading at 69.60. I am now recommending a bullish position while placing the stop-loss below the contract low and low yearly standing at the August 5th low of 63.67 as the risk is around $2,500 per contract plus slippage and commission.

The United States and China agreed on a phase one trade agreement, which certainly should pick up demand for pork. China has lost 250 million hogs due to the swine flu as that is why you see hog prices trade higher over the last 2 consecutive sessions and historically speaking, prices look very cheap.

Hog prices are trading above their 20-day but still under their 100-day moving average, which stands around the 72.40 level as prices have been depressed for quite some time because we've had no agreement with China. Still, that situation has changed as I think the risk/reward is in your favor to take a bullish position. I think the 65 level will hold so play this to the upside while making sure that you risk 2% of your account balance on any given trade as the proper risk management strategy.

TREND: MIXED
CHART STRUCTURE: EXCELLENT
VOLATILITY: HIGH

Live Cattle Futures

Live cattle futures in the February contract is sharply higher this Friday afternoon in Chicago up 250 points at 127.60, hitting a fresh contract high. Prices are reacting strongly because of the phase 1 trade agreement with China as most agricultural markets are higher across the board as that is an extremely bullish fundamental factor for higher prices ahead.
Continue reading "Weekly Futures Recap With Mike Seery" →

S&P 500 Futures

S&P 500 futures in the December contract settled last Friday in Chicago at 3143 while currently trading at 3136 up for the 3rd consecutive session rallying sharply off of the unemployment number, which showed that we added 266,000 jobs which way above estimates as the U.S. economy is on fire.

I had been recommending a bullish position from the 3006 level getting stopped out earlier in the week at 3090, which is a little disappointing. However, you must have an exit strategy as President Trump announced on Monday that no trade deal with China was imminent, which sent prices sharply lower. I'm currently sitting on the sidelines, waiting for the chart structure to improve.

The S&P 500 is now trading above its 20 and 100-day moving average as the trend remains higher. I still have a bullish bias and I still believe the holiday shopping season will be outstanding; therefore, that will push prices even higher as I see no reason to be short this market.

Volatility this week has increased tremendously, and that it's not surprising, especially at these elevated levels. I still believe the 3200 levels come year-end is possible. However, the risk/reward is not in your favor to take a bullish position at this time, so I will be patient.

TREND: HIGHER
CHART STRUCTURE: POOR
VOLATILITY: INCREASING

Sugar Futures

Sugar futures in the March contract is trading higher for the 4th consecutive session after settling last Friday in New York at 12.94 while currently trading at 13.16 up about 22 points for the week continuing it's very low volatility. Prices continually grind higher every week. Continue reading "Weekly Futures Recap With Mike Seery" →

Sugar Futures

Sugar futures in the March contract settled last Friday in New York at 12.73 a pound while currently trading at 12.74 unchanged for the trading week, continuing it's extremely low volatility.

I have been recommending two bullish positions with an average price of 12.67, and if you took that trade, continue to place the stop loss under the 10-day low, which now stands at 12.46. For Monday's trade, that will be raised to 12.51 as the chart structure is outstanding at the current time because prices have been stuck in the mud.

Sugar is still trading slightly above its 20 and 100-day moving average as the trend remains higher as we need some fresh news to dictate short-term price action as the Brazilian Real has hit a 4 year low against the U.S dollar as that has a negative influence on prices.

The next major level of resistance stands at the 13.00 area. I will be looking at adding more contracts at that level because the stop-loss is so tight; therefore, the risk/reward is in your favor, so stay long.

TREND: HIGHER
CHART STRUCTURE: EXCELLENT
VOLATILITY: LOW

Orange Juice Futures

Orange juice futures in the January contract settled last Friday at 100.50 while currently trading at 99.00 down about 150 points for the week as prices are still stuck in a tight four-week consolidation. Continue reading "Weekly Futures Recap With Mike Seery" →