Tag: Futures Trading

Silver Futures

Silver futures in the December contract ended the week on a sour note down $0.42 at 17.75 after settling last Friday at 18.11 an ounce as prices are near a 3 week low. I have been recommending a bullish position over the last several months from the 14.93 level originally in the September contract as it is time to exit and move on as prices are right near a 3 week low as the trend in the short-term has changed.

Silver futures are trading below their 20-day but still above their 100-day moving average as all the interest has come back into the U.S stock market which is right near another all-time high as money flows are entering equities and out of the metals.

If you are a longer-term investor, I would still hold on to silver as I still believe prices are cheap historically speaking as this is just the pullback as I will not take a short position as I think the downside is minimal.

I do not have any recommendations in the precious metal as I think this is a pause as we will probably witness a consolidation over the next couple of weeks, but I still believe prices will head into the $20 range come year-end, but it is time to move on and exit.

TREND: MIXED
CHART STRUCTURE: POOR
VOLATILITY: HIGH
Continue reading "Weekly Futures Recap With Mike Seery" →

Gold Futures

Gold futures in the December contract is currently trading at 1,523 an ounce after settling last Friday in New York at 1,529 down slightly for the trading week experiencing high volatility as I am currently not involved, but I do have a bullish silver position which has been mirroring gold to the upside.

If you are long a futures contract, I would place the stop loss under the 2 week low standing at 1,503, however for the bullish momentum to continue prices have to break the September 4th high of 1,566 in my opinion.

Trade talks between the United States and China will begin once again in October as that put pressure on gold prices in yesterday's trade also sending the stock market sharply higher as money flows entered equities and out of the precious metals which have been used as a flight to safety.

In my opinion, I still believe gold and silver will continue their bullish trends as negative interest rates around the world will continue to support the precious metals sector as interest rates are going to remain extremely low for a long time as I see no reason to be short gold.

TREND: HIGHER
CHART STRUCTURE: SOLID
VOLATILITY: HIGH
Continue reading "Weekly Futures Recap With Mike Seery" →

Gold Futures

Gold futures in the December contract settled last Friday in New York at 1,523 while currently trading at 1,537 up nearly $28 for the week ending on a positive note all because it certainly looks like a trade war with China is going to escalate.

I am currently not involved in gold, but I do think higher prices are ahead and if you are long a futures contract continue to place the stop loss under the 2 week low standing at 1,488 as an exit strategy as I still think prices break the 1,600 level possibly in next week's trade. I have a bullish silver trade which continues to move higher weekly as I see no reason to be short the precious metals as the U.S. stock market is down another 450 points as the commodity markets remain weak across the board especially the agricultural sector.

Volatility in gold is exceptionally high, and that will continue for the rest of 2019 as prices are still trading above their 20 and 100-day moving average, however for the bullish momentum to continue prices have to break the April 13th contract high of 1,546, and I think that situation is going to occur so stay long if you are involved as I see no reason to take profits.

TREND: HIGHER
CHART STRUCTURE: SOLID
VOLATILITY: HIGH
Continue reading "Weekly Futures Recap With Mike Seery" →

S&P 500 Futures

The S&P 500 in the September contract settled last Friday in Chicago at 2919 while currently trading at 2875 down about 45 points for the trading week experiencing incredibly high volatility as that situation is going to become more violent in the coming months.

I'm not involved, and I'm advising clients to avoid this market as it is like flipping a coin daily with no trend insight as there are better markets with a lot less risk at the current time.

The S&P 500 is trading below its 20 and 100-day moving average as the trend is to the downside as August historically speaking and be very shaky and that is precisely what's occurring. I will wait for the chart structure to improve, which could take several more weeks.

Bond markets across the world are spooking the equity market as there are now 12 countries with a negative interest rate as the 10-year note which I do have a bullish recommendation which is currently yielding 1.50% and looks to go much lower in my opinion. However, eventually, this will be bullish stock prices, but at the current time, the bond market might be telling you that a recession is around the bend.

I am bearish most of the commodity markets except for the precious metals as weak demand continues to hamper prices.

TREND: LOWER
CHART STRUCTURE: POOR
VOLATILITY: HIGH
Continue reading "Weekly Futures Recap With Mike Seery" →

Gold Futures

Gold futures in the December contract is currently trading at 1,509 after settling last Friday in New York at 1,457 up over $50 for the trading week hitting a 6-year high as interest rates in the United States and worldwide continue to drop precipitously weekly. China devalued its currency this week to an 11 year low against the U.S dollar as there is sheer panic worldwide that is causing gold prices to move higher as I am not involved, but I do believe higher prices are ahead.

If you are long a futures contract place the stop loss under the 2 week low standing at 1,412 as the charge structure is terrible at the current time due to the run-up in prices, however, I also have bullish recommendations in silver and platinum as money flows continue to enter into these sectors.

Gold prices are trading far above their 20 and 100-day moving average as this is probably the strongest trend besides the bond market at the current time as I see no reason to be short especially with all this worldwide uncertainty so if you are long-stay long. If you are not involved in this market, I would not chase this as that is very dangerous as you have missed the boat so move on and look at other markets that are beginning to trend with less risk.

TREND: HIGHER
CHART STRUCTURE: EXCELLENT
VOLATILITY: INCREASING

Silver Futures

Silver futures in the September contract settled last Friday in New York at 16.39 an ounce while currently trading at 16.94 up about $0.55 as prices hit a 13 month high continuing its bullish momentum following the coattails of gold which is at a 6 year high.

Interest rates around the world continue to plunge to the downside as that is a fundamental bullish factor towards silver prices as I have been recommending a bullish position from the 14.93 level and if you took the trade continue to place the stop loss at 16.08 on a closing basis only as an exit strategy. Continue reading "Weekly Futures Recap With Mike Seery" →