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 December contract settled last Friday in New York at 1,269 an ounce while currently trading at 1,285 up about $16 for the trading week holding major support on multiple occasions around the 1,264 level as it looks to me that a possible rounding bottom might be taking place in this commodity. I am not involved in gold. However, I am looking at a potential bullish position as prices are right near three-week highs with excellent chart structure; therefore, the monetary risk is relatively low for such a volatile commodity. Gold prices are now trading above their 20 & 100-day moving average telling you that the short-term trend is higher and I do have a bullish bias in silver as that commodity looks very cheap at the moment. Keep a close eye on gold as we could be involved in a bullish position in next week's trade. Gold prices have held support in recent weeks despite the fact that the U.S. dollar is at a three month high & if that trend should reverse and start to move lower that would be a positive fundamental situation towards gold prices. I still think many of the commodity sectors are underpriced as I will not take any short positions as we head into 2018 as the volatility in gold remains remarkably low as we have gone nowhere over the last six weeks. However, I think a trend to the upside is looming.
TREND: MIXED
CHART STRUCTURE: EXCELLENT
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 December contract settled last Friday in New York at 1,271 an ounce while currently trading at 1,277 up about $6 for the trading week in a very non-volatile trading manner. I'm currently sitting on the sidelines as there is no trend at the current time. The U.S. dollar is trading at a three month high, and that is keeping a lid on gold prices in the short-term coupled with the fact that the U.S. stock market is hitting all-time highs. All of the interest lies in the equity market & not in gold as money flows continue to come out of this commodity. Gold prices are trading under their 20 and 100-day moving average telling you that the trend is lower. I still think we will retest major support around 1,262 and if that is broken, we could head below 1,250 in the coming weeks. I just don't see any reason to own gold when the stock market goes up on a daily basis. The chart structure is starting to improve due to low volatility in recent weeks, and we could be involved in this commodity shortly so keep this market on your radar, but in the short term look at other markets that are beginning to break out.
TREND: LOWER
CHART STRUCTURE: IMPROVING
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 December contract settled last Friday in New York at 51.84 a barrel while currently trading at 52.52 up to around $0.70 for the trading week continuing its slow, methodical bullish trend. However, the true breakout to the upside stands at 53.11 which could happen in today's trade despite the fact that the U.S. dollar continues its bullish momentum hitting another three month high in today's trade. The main reason that crude oil continues to move higher is that strong demand continues to prop up prices as heating oil and unleaded gasoline are hitting contract highs once again and if you've noticed at the retail gas stations prices are relatively high. I think these trends will continue throughout 2017 as the U.S. economy is very strong coupled with very low unemployment. Crude oil is trading above its 20 and 100-day moving average and the trend is clearly to the upside and I'm recommending a bullish position if prices breakout above 53.11 while then placing the stop loss under the two week low standing at 50.87 risking around $2.20 or $1,100 per mini contract plus slippage & commission. Tthe chart structure is solid due to very low volatility.
TREND: HIGHER
CHART STRUCTURE: SOLID
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 1,275 an ounce while currently trading at 1,304 up nearly $30 for the trading week bottoming out last Friday around 1,262. I'm currently not involved in this market or any of the precious metals as gold and silver have remained extremely choppy in recent months. Gold prices are now near a three week high as the U.S. dollar has now hit a three week low and that has helped push prices up this week, and they are now trading above their 20 and 100-day moving average as the trend is higher. However, in my opinion, avoid this market as the trend is truly mixed. The stock market has hit another all-time high in today's trade as money has been coming out of gold & into the equity market over the last several weeks as I remain very bullish stocks. I think gold will remain choppy for the rest of 2017 unless some development happens with North Korea as that could reemerge at any moment. I still think that situation is not going away and I do think the downside in gold is limited. However, I will wait for better chart structure & a better risk/reward scenario before getting involved.
TREND: MIXED
CHART STRUCTURE: POOR
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 1,275 an ounce while currently trading at 1,264 down about $11 for the trading week after reacting negatively to a higher U.S. dollar hit a six week high putting pressure on silver and gold prices here in the short term. The United States lost 33,000 jobs in September due to the hurricane situation down south, but that is having minimal impact to support gold as the short-term trend is to the downside. If you take a look at the 10-year note which is now yielding 2.45% as yields continue to climb which is a negative towards precious metals prices plus tensions with North Korea have subsided over the last several weeks as money flows are coming out of gold and into the stock market once again which hit all-time highs this week. I'm advising clients to avoid the precious metals as they remain choppy with poor chart structure. Gold prices have now dropped about $100 from the September 8th high around 1,362 as this market has been incredibly choppy in 2017 as we are headed towards major support at the 1,250 level as lower prices look to be ahead in my opinion.
TREND: LOWER
CHART STRUCTURE: POOR
Continue reading "Weekly Futures Recap With Mike Seery" →