Tag: Futures Trading

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 June contract is currently trading at 1,295 an ounce unchanged for the trading week as the trend remains sideways. If you are long a futures contract, I would place the stop loss under major support which now stands at 1,284 as an exit strategy as I still have a bullish bias towards gold, but the risk/reward is not in your favor to take a position at this time. Gold prices are trading slightly under their 20 and 100-day moving average as the trend is lower to mixed as prices have gone nowhere over the last three months. Volatility remains average as prices topped out last month slightly above the 1,350 level as I still think longer-term gold prices look attractive. However, all the interest remains in the U.S. equity market which is hovering right near all-time highs once again. For the bullish momentum to continue prices have to break the March 25th high of 1,330 in my opinion so be patient and let's see what next week's trade brings as I do believe bullish trends across the board will start to develop soon.
TREND: MIXED
CHART STRUCTURE: IMPROVING
VOLATILITY: AVERAGE
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.

Silver Futures

Silver futures in the May contract settled last Friday in New York at 15.40 an ounce while currently trading at 15.16 down about $0.24 for the trading week bouncing off of major support which was also right near a three month low. I don't have any precious metal recommendations as silver continues to remain in a choppy chart pattern as we are now trading under their 20 and 100-day moving average as the trend has turned to the downside. However, I do believe the downside is limited. The U.S. dollar is right near a two year high this week as that is what has put pressure on silver and the entire precious metal complex as there are very few strong trends out of the commodity sectors at this time. If you are long a futures contract, I would place the stop loss under today's low as an exit strategy of 14.95 because if that level is broken, you do not want to have any type of bullish position in my opinion.
TREND: LOWER
CHART STRUCTURE: SOLID
VOLATILITY: INCREASING
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 April contract settled last Friday in New York at 1,302 while currently trading at 1,310 up about $8 for the trading week. Prices reacted positively off of the Federal Reserve statement that they will not raise interest rates for the rest of 2019 which is a fundamental bullish factor towards gold and the precious metals as a whole. Gold prices held major support a couple of weeks back at the 1,280 level as I still believe we will break the February 20th high of 1,349 in the coming weeks ahead. The Federal Reserve stated that there would be no more interest rates hikes in the near future as that is bullish commodities and stock prices in general as I see no reason to be short gold at these relatively inexpensive prices. Gold futures are trading above their 20 and 100-day moving average as the trend is slightly higher as I will be looking at a bullish position if prices hit a four week high in next weeks trade as the chart structure is improving daily due to the low volatility. The U.S. dollar has sold off of recent highs as lower interest rates in the United States means a weak dollar which is also bullish gold.
TREND: HIGHER
CHART STRUCTURE: IMPROVING
VOLATILITY: AVERAGE
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 April contract is currently trading at 1,304 after settling last Friday in New York at 1,299 up about $5 for the trading week bouncing off of major support. The precious metals continue in a longer-term bullish trend as I do think gold prices will break the February 20th high of 1,349 in the coming weeks ahead as there is strong demand. Gold is currently trading slightly below its 20-day moving average, but still above its 100-day as the trend is mixed to higher and the chart structure is starting to improve as the volatility remains low. The U.S dollar has put pressure on gold prices over the last month as that currency is right near a two year high. However, gold prices have held up relatively well and if you ever get some type of sell-off in the dollar that could propel prices higher. If you take a look at the daily chart, the trendline remains intact as palladium prices are right near an all-time high once again as that that is the leader to the upside. If you are bullish gold prices and you are long a futures contract, I would place the stop loss under major support at 1,280 as an exit strategy as that would be a three month low. I would see no reason to be long if that situation occurs.
TREND: MIXED - HIGHER
CHART STRUCTURE: SOLID
VOLATILITY: LOW
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 April contract is currently up $13 an ounce at 1,298 after settling last Friday at 1,299 unchanged even though prices settled right at session highs today. Gold prices are trading above their 20-day but still below their 100-day moving average, and if you look at the daily chart, it basically mirrors exactly what silver has been doing as prices also topped out on February 20th at 1,349 as prices have now hit a two month low this week. The volatility in gold is starting to expand as I'm currently sitting on the sidelines waiting for better chart structure to develop, but I do think the downside is limited as there is a lot of uncertainty worldwide as Europe is also lowering its growth forecasts as that could send money flows back into the gold. The U.S. dollar hit a 2-year high this week, and that is why you witnessed around a $60 sell off or 4% from recent highs as I think gold prices have held up relatively well despite that fact so look to play this to the upside in my opinion.
TREND: MIXED
CHART STRUCTURE: IMPROVING
VOLATILITY: INCREASING
Continue reading "Weekly Futures Recap With Mike Seery" →