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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 are trading above their 20 day but below their 100 day moving average which is pretty close at 1,275 going out this Friday afternoon in New York at 1,267 up about $10 after closing last Friday at 1,240 having one of its best trading weeks in quite some time. The next major resistance in gold is at 1,280 and if that level is broken I believe a bull market is underway as the gold market looks like it's finally bottomed entering new 2 month highs as the trend line has now been broken as prices are starting to climb higher. I have not been particularly bullish gold for quite some time but things have changed and this is the most bullish I've been as I love the chart pattern on the daily chart and I think prices have bottomed so if you're looking to take a shot to the upside my suggestion would be to buy a mini contract at today's price placing a stop below the contract low of 1,180 risking around $$2,600 as today's monthly unemployment number was very disappointing once again sending investors into treasury bonds and gold and I do believe gold prices are headed higher. 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 finished the week at 1,240 still continuing their choppy trade as investors sold off the precious metal later in the week despite the fact that the S&P 500 is having huge volatility which generally spooks investors into buying gold but the precious metal closed very poorly in my opinion. I have a hard time believing that gold is going to start to rally anytime soon as it might be stuck in the mud and could trade choppy for quite some time. The U.S dollar hit a 7 week high today which is bearish gold prices as the printing press here in the United States is starting to stop which is creating a higher U.S dollar versus the foreign currencies and that is bearish commodity prices in general. 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 are trading above their 20 day but slightly below its 100 day moving average hitting a 2 month high as investors came back into the precious metal as the stock market suffered sharply lower losses in the last couple of days. The Dow Jones is down 250 points this Friday as investors are putting money back in the bond and gold markets in recent weeks. I’m recommending sitting on the sidelines in gold as I think the trend is higher but we will see some choppiness especially if the stock market starts to reverse and head back up which in my opinion it will do as the selloff is blamed on emerging market weakness spooking investors in the last couple of days. 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 are trading higher for the 2nd consecutive trading session ending the week slightly higher finishing up $13 this Friday afternoon at 1,253 near a 4 week high as there’s a possibility that gold prices have bottomed in the short term as 1,180 could be a double bottom. Gold is trading above its 20 day but below its 100 day which tells you the trend is mixed and I would still sit on the sidelines and wait for a real trend to develop at this time as I think there still a possibility of another retest of the 1,180 as the U.S dollar looks like it has bottomed and that might put some pressure on gold once again. 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 rallied sharply off of a disappointing unemployment jobs number coming out this morning stating that we had added 75,000 jobs as we are expecting at around 200,000 sending gold up $16 closing right at session highs at 1,245 an ounce with a possible bottom at 1,180 being formed as traders rushed back into the precious metal thinking that the economy is doing much worse than expected. Gold is still in a mixed trend trading above its 20 day moving average but below the 100 day moving average settling last Friday at 1,239 going out up about $5 for the week and it will be very interesting to see what the next jobs report states if it’s another 75,000 you could be almost be assured that the Federal Reserve will continue its quantitative easing and might even add to it so if you’re bullish gold you’re hoping for another poor unemployment number next month. Continue reading "Weekly Futures Recap With Mike Seery" →