Tag: CHART STRUCTURE

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 in New York last Friday at 1,183 an ounce while currently trading at 1,161 down over $20 for the trading week despite the fact that China cut their interest rates by 25% and the ECB announced yesterday to add more stimulus in silver which is generally bullish gold prices are just the opposite is happening is the U.S dollar is up 200 points in the last two trading days putting pressure on many commodities. Gold prices are still trading above their 20 and 100 day moving average telling you that the short-term trend is to the upside, however all of the interest is back in the S&P 500 which is up over 60 points in the last two trading days as the technology sector has caught fire once again with Amazon, Google, and Microsoft all up sharply today as money flows are going back into the equities. 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 1,156 an ounce while currently trading at 1,178 up over $20 for the trading week continuing its bullish momentum hitting a 3 ½ month high as I’ve been sitting on the sidelines as the 10 day low stands at 1,130 which is too far away with too much risk at the current time as I will wait for a better chart structure to occur. Gold prices are trading above their 20 and 100 day moving average for the first time in months telling you that this rally could be for real but wait for a better chart structure to tighten up therefore lowering monetary risk which could take another 5 days as a weak U.S dollar has spurred prices to the upside in recent weeks. 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 1,136 an ounce while currently trading at 1,154 trading above its 20 and 100 day moving average for the 1st time in many months as the trend has now turned to the upside, however the chart structure is very poor at the current time as the 10 day low is to for away so I’m sitting on the sidelines waiting for a tighter stop to develop. Many of the commodity markets have rallied in the last week including the energy sector & precious metals as the next major level of resistance is around 1,170 as a short-term bottom certainly looks like it’s developed, but be patient and wait for better chart structure which could take a couple more weeks as the U.S dollar continues its short-term bearish trend helping support the commodity and gold market. Gold prices have remained very choppy over the last six weeks with high volatility so if you want to trade this market place the proper amount of contracts risking 2% of your account balance on any given trade, but in my opinion this market remains choppy and is very difficult to trade successfully. Continue reading "Weekly Futures Recap With Mike Seery" →

Weekly Futures Recap With Mike Seery

Posted on by admin

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--- Gold futures in the June contract settled higher for the 2nd consecutive trading session cracking $1,300 an ounce after hitting new recent lows yesterday before the Ukrainian situation was stirred up once again this could be a problem for months to come as gold is held major support 1,280 currently I’m not recommending a position in this market as the trends choppy but keep an eye on this chart and wait for better chart structure to develop. Gold futures are trading above their 20 and 100 day moving average telling you that the trend is higher despite the fact that we are right near recent lows as the market remains choppy but with the stock market rallying recently investors sought no reasonable gold but the money flow came back into this market as political tensions are heating up. If your bullish the gold market my recommendation would be to buy a futures contract at today’s price of 1,300 while placing your stop below yesterday’s low of 1,264 risking around $3600 but the true breakout will not occur until prices break the April 14th high of 1331.
TREND: SIDEWAYS
CHART STRUCTURE: POOR

Continue reading "Weekly Futures Recap With Mike Seery" →

Weekly Futures Recap With Mike Seery

Posted on by admin

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 below their 20 day but above their 100 day moving average telling you that the trend currently is mixed as prices are still trading near two-year lows and if this commodity could talk it would bark in my opinion as it is becoming a tremendous dog in recent months trading lower by $40 in Tuesday’s trade settling last Friday at 1,319 and going out this Thursday afternoon at 1,295 finishing down about $25 for the trading week. If prices break 1,277 I would be recommending a short position putting your stop above the 10 day high with the possibility of prices heading towards major support at 1,240 and then maybe the possibility of lower prices as it seems that nothing can make gold prices go up not even the fact of the Ukrainian crisis & the recent stock market choppiness as demand for gold at this current time is very weak with very little interest as well. Markets go up due to the fact that money flows come into that commodity and all the money flow is going into stocks at the current time as complacency has set in as nobody seems to care about gold or see any reason to own it at this time, however in my opinion I do believe worldwide problems will come back and I do think losses in gold are limited so I would look for a better trending market & sit on the sidelines unless 1,277 is broken on a closing basis.
TREND: LOWER
CHART STRUCTURE: EXCELLENT

Continue reading "Weekly Futures Recap With Mike Seery" →