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Coffee Prices Up 4th Day In A Row


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Coffee Futures--- Coffee futures in the December contract are trading higher for the 4th consecutive session up another 50 points at 131.15 a pound right near a 3 week high as the chart structure is excellent at the present time, however I do not have a recommendation in this commodity, but I'm looking at a bullish trade in the coming days ahead.

Coffee prices held major support at the 127 level as volatility has come to a crawl which is shocking in my opinion & should start to expand in the next couple of weeks as I do think prices have bottomed out and as I've talked about in many previous blogs I will not take a short position.

Coffee prices are now trading above their 20 day but still below their 100 day moving average standing at 137.00 telling you the short-term trend is mixed, however a bullish trend could develop real soon as we will now be focused on the 2018 crop as droughts and freezes can certainly affect this market in a tremendous way just like in 2014 when a drought pushed prices sharply higher in a matter of weeks.

At the present time I don't have any soft commodity recommendations, but looking at buying cotton and very close to buying the sugar market as I am bullish most of the commodities as I think with low interest rates and a weak U.S dollar the path of least resistance is going to be higher.TREND: MIXED–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

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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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