Tag: seeryfutures.com

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 are trading right at their 20 and 100 day moving average which doesn’t happen very often telling you that this market has basically been going sideways over the last 2 months with very little volatility is as prices seem to be bottoming out around the 1,270 – 1,280 at the current time I’m sitting on the sidelines in this market as there is no current trend but a breakout seems to becoming in my opinion as I do think with low interest rates remaining for quite some time that gold prices are currently bottoming out.

If you’re looking at buying this market at today’s price of 1,294 I would place your stop loss below the 4 week low 1,275 an ounce risking around $20 per contract or $2,000 if you’re looking at a bearish position I would sell at today’s price while placing my stop above the 10 day high which stands at 1,310 risking around $1,700 per contract as the gold chart has excellent chart structure allowing you to place tight stops. The story this week was a lot of money going into the U.S treasuries as investors think the U.S could be slipping into a recession and if that is true you would have to assume that gold prices will benefit from bad economic news so keep a close eye on this market.
TREND: SIDEWAYS
CHART STRUCTURE: OUTSTANDING

Continue reading "Weekly Futures Recap With Mike Seery" →

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 settled last Friday at 1,309 while going out today around 1,290 down by about $20 for the trading week as the Ukrainian situation has stalled sending gold prices back down into the recent trading range. Gold futures are trading below their 20 but right at their 100 day moving average as prices have been consolidating in the last 5 weeks trading in a $30 range as I’ve been sitting on the sidelines waiting for a better chart pattern to develop but if you are looking to get into this market on the long side I would buy at today’s prices placing my stop at the 10 day low of 1,365 risking around $2,500 per contract and if you’re looking to get short this market I would sell at today’s price while putting my stop loss at 1,310 risking around $2,000 as the chart structure is relatively tight at the current time. Gold prices rallied from 1,180 all the way up near $1,400 an ounce 2 months ago so this is basically the 50% retracement and I think you will see a consolidation for quite some time so keep a close eye on this chart as it appears to me that a breakout is looming.
TREND: MIXED
CHART STRUCTURE: EXCELLENT

Continue reading "Weekly Futures Recap With Mike Seery" →

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 prices had a volatile trading week basically finishing unchanged to settle around 1,298 in the June contract after having a tremendous reversal selling off down to 1,272 when the monthly unemployment number was released adding 280,000 jobs which is bullish the economy and bearish gold but then turned on a dime with the Ukrainian problems escalating sending gold finishing up $14 this Friday right near session highs as prices have been consolidating in recent weeks. I’ve been sitting on the sidelines in the gold market for quite some time as this market remains choppy and it might be bottoming at the current price levels as gold rallied $200 to start the year but now has given back over $100 so were at about the 50% retracement so if your bullish gold I would buy a futures contract at today’s price while placing my stop at the 10 day low which is also the 10 week low of 1,268 an ounce risking around $3,000 per contract. I’ve lived through many of these political escalations including one last August with Syria and they always seem to fizzle away so we will see if today’s rally will do the same but sit on the sidelines and see what develops. The one thing gold does have going for it is trading above its 20 and 100 day moving average which is telling you that the trend might be turning higher as prices could be bottoming out.
TREND: MIXED
CHART STRUCTURE: EXCELLENT

Continue reading "Weekly Futures Recap With Mike Seery" →