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.
Energy Futures--- The energy futures had a wild trading week with heating oil the big story after breaking out from 3.10 a gallon a couple weeks back hitting a 3 ½ month high and as I had advised buying the 3 ½ month breakout to the upside now up another 400 points today at 3.2425 in the March contract a gallon hitting an 11 month high up around 800 points for the trading week due to the fact of a big storm hitting New England. Crude oil futures were slightly lower this Friday afternoon down around $2 for the trading week with major resistance at $98 and major support at $95 still stuck in a sideways channel after consolidating after hitting 4 month highs and still trading above its 20 and 100 day moving average. Unleaded gasoline which is been the strongest in the energy sector trading far above its 20 and 100 day moving average consolidating for the week basically trading unchanged this Friday afternoon finishing up over 500 points still at 1 year highs on the fact that demand around the world is increasing tremendously pushing prices up as stock markets are also improving around the world increasing optimism. Continue reading "Weekly Futures Recap with Mike Seery"
