rounded corner
rounded corner
top border

Cotton Higher 6th Day In A Row


Bookmark and Share

Cotton Futures--- Cotton futures in the December contract is trading higher for the 6th consecutive session hitting a 3 month high all due to the fact of Hurricane Harvey possibly destroying up to 600,000 acres pushing prices sharply higher over the last several weeks as it certainly looks to me that the 66 level has formed a long-term bottom.

The commodity markets in general have started to rally as the agricultural sector had been extremely weak over the last several weeks, but now has finally turned the corner as the U.S dollar has hit a fresh 2 year low in today's trade as I'm not currently involved in cotton as the 10 day low stands at 67.35 as the risk is around $2,700 per contract plus slippage & commission which is too high at this point, however keep an eye on this market for some type of price retracement as we will be looking at a bullish position in the days ahead.

Cotton is trading above their 20 & 100 day moving average as the trend has turned higher as traders are awaiting the highly anticipated USDA crop report which will be released in the next week as the last report sent prices down 300 points as volatility will remain in this market for months because of the situation in the southern part of the United States.TREND: HIGHER---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

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER

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.



Recent articles from this author



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.

Published by Barchart
Home  •  Charts & Quotes  •  Commentary  •  Authors  •  Education  •  Broker Search  •  Trading Tools  •  Help  •  Contact  •  Advertise With Us  •  Commodities
Markets: Currencies  •   Energies  •   Financials  •   Grains  •   Indices  •   Meats  •   Metals  •   Softs

The information contained on InsideFutures.com is believed to be accurate but is not guaranteed. Market data is furnished on an exchange delayed basis by Barchart.com. Data transmission or omissions shall not be made the basis for any claim, demand or cause for action. No information on the site, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any futures or options contracts. InsideFutures.com is not a broker, nor does it have an affiliation with any broker.


Copyright ©2005-2018 InsideFutures.com, a Barchart.com product. All rights reserved.

About Us  •   Sitemap  •   Legal  •   Privacy Statement