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I Remain Bullish Cotton Prices !


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Cotton Futures--- Cotton futures in the December contract are trading higher by 55 points currently trading at 71.10 continuing its bullish momentum as I have been recommending a bullish position from the 69.55 level and if you took the trade the stop loss has been raised to 68.00 as it looks to me that higher prices are ahead with the possibility of hitting the 72 level & if that is broken I think we could possibly retest the contract high around the 75 level as the USDA crop report will be released this Thursday afternoon.

Cotton prices are trading above their 20 and 100 day moving average telling you that the trend is to the upside as the chart structure will also improve over the next couple of days therefore lowering the monetary risk as the commodity markets are starting to trend once again in my opinion to the upside except for the livestock sector as economic growth in the United States and worldwide is occurring which is a great thing for stock and commodity prices in my opinion.

The United States planted around 12 million acres which is extremely large and should still produce a very good crop, however with the U.S dollar hitting a 14 month low coupled with the fact of improving demand starting to come from overseas it looks to me that the 66 level was the bottom.TREND: HIGHER –CHART STRUCTURE: EXCELLENT

If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-312-224-8140 I will be more than happy to help you with your trading or visit www.seeryfutures.com

Skype Address: mseery TWITTER---@seeryfutures

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Email: mseery@seeryfutures.com

If you’re looking to open a Trading Account click on this link www.admis.com

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.



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About the author


Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
 
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
 
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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