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Coffee Lower 9th Day In A Row


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Coffee Futures----Coffee futures are trading lower for the 9th consecutive trading session which is remarkable in my opinion currently trading at 127.80 a pound looking to retest the contract low which was hit on June 22nd at 120 as I'm currently sitting on the sidelines shaking my head as I'm surprised at how low prices have gone.

If you take a look at sugar prices which is also grown in the country of Brazil & has had a significant rally over the last several days as I would think that would start to support coffee prices as this market has been relentless to the downside.

I think coffee prices are getting historically cheap as I don't think they have much further to go to the downside as I will certainly not take a short position in this market as I do think a rebound is coming, however the trend clearly is to the downside as prices are far below their 20 and 100 day moving average as the trend is negative at this time. Harvest is in full swing in the country of Brazil and should be wrapped up relatively soon as I still think that is a positive towards higher prices down the road as the chart structure is very poor at the present time so keep a close eye on this market.

I love trading coffee as its the largest contract in the world & can be extremely trendy especially when the volatility increases as it is very low at the current time.TREND: LOWER –CHART STRUCTURE: POOR

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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