Tag: Guest Bloggers

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 20 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 November contract settled last Friday in New York at 50.44 a barrel while currently trading at 50.50 primarily unchanged for the trading week which is a rare occurrence as this is a very volatile commodity. I will be recommending a bullish position if prices close above 50.88 while then placing the stop loss under the 10-day low standing at 48.28 risking around $1,300 per mini contract plus slippage and commission. Oil prices are right at a 15-week high trading above their 20 and 100-day moving average telling you that the short-term trend is higher with heating oil hitting another contract high in today's trade while unleaded gasoline continues to remain firm. I am bullish the entire sector across the board. The chart structure in crude oil is excellent due to low volatility, and we could be involved in a bullish position at Friday's close so keep a close eye on this market as I think the commodities, in general, are moving higher as the bearish trends have finally come to an end in my opinion.
TREND: HIGHER
CHART STRUCTURE: EXCELLENT
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 1,351 an ounce while currently trading at 1,328 down about $23 for the trading week. For the 1st time in over a month prices traded lower and may have topped out in the short-term at 1,362 as profit-taking has ensued pushing prices lower this week. If you are long a futures contract, the chart structure has turned outstanding, and I would place my stop loss as an exit strategy below the 10-day low standing at 1,319 which is just about $10 away. Prices are still trading above their 20 and 100-day moving average as the trend remains higher in my opinion. The U.S. dollar traded sideways this week lending little support for gold prices as the story is all about North Korea and if or if they don't send a missile over the weekend sending prices higher or lower. There is still a high demand for physical gold at this time so continue to play this to the upside. Volatility in gold is relatively high as the higher price goes in a commodity, the higher the volatility as well that is why you can see $10/$15 trading ranges on a daily basis. Make sure you place the proper amount of contracts as I think the volatility will even increase throughout 2017.
TREND: HIGHER
CHART STRUCTURE: EXCELLENT
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 1,297 an ounce while currently trading at 1,324 up about $27 for the week trading far above it's 20 and 100-day moving average. This trend continues to the upside on a weekly basis as prices have now hit a 10-month high. Tensions with North Korea escalated this week as they sent another missile over Japan which continues to support gold prices and I don't think that situation is going away anytime soon. If you are long a futures contract, continue to place the stop loss under the 10-day low which stands at 1,278 as the chart structure is poor because prices have run up rather quickly this week. The U.S. dollar has also hit a 2-year low which is supporting gold & the precious metals across the board with the next significant level of resistance at 1,350. If that level is broken, you would have to think that we could test the $1,400 level. Gold prices will depend on what North Korea and the United States conflict turns into as I don't see any other situation than the United States doing some military action against their nuclear facilities. This problem is getting worse not better as diplomatic negotiations have not worked for years so continue to play this to the upside.
TREND: HIGHER
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.

Crude Oil Futures

Crude oil futures in the October contract settled last Friday in New York at 48.66 a barrel while currently trading at 47.80 down slightly for the trading week with low volatility despite the fact that Hurricane Harvey could do some severe damage in the state of Texas. Harvey has put tremendous volatility in the heating oil and unleaded gas futures. Oil prices are trading slightly below their 20 and 100-day moving average telling you that short-term trend is lower, but this trend is mixed to sideways with little movement over the last six weeks. I'm currently not involved, and I'm waiting for a breakout to occur which could happen in next weeks trade. I've seen hurricane situations before, and they do spike prices up in the beginning, but then they fade away very quickly. I don't think there will be much damage occurring from the situation, but we will see come Monday but in the meantime look at markets with a better risk/reward scenario as prices are still stuck in a consolidation between 47/50 over the last month or so as a breakout is coming soon. My only recommendation at the present time is a bullish copper position as there are very few strong trends.
TREND: LOWER - MIXED
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 1,294 while currently trading at 1,306 up about $12 for the trading week breaking the critical 1,300 level now looking to retest the April 17th high of 1,307 as this bullish trend remains intact in my opinion. I'm currently not involved in gold, however, if you do have a bullish position continue to place the stop loss under the 10-day low standing at 1,257. The chart structure will start to improve over the next couple of days, therefore, lowering the monetary risk as low-interest rates in the United States continue to help push up the precious metals here in the short-term. A major terrorist attack in Spain on Thursday is also helping push prices higher as the world is on alert for more attacks in the coming weeks. Prices are trading above their 20 and 100-day moving average telling you that this trend is to the upside with the next major level of resistance all the way at 1,350 which was touched in last November during the U.S election. At present my only precious metal recommendation is still a bullish position in the copper market, but it looks like higher prices are ahead across the board.
TREND: HIGHER
CHART STRUCTURE: IMPROVING
Continue reading "Weekly Futures Recap With Mike Seery" →