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Here Are My Cocoa Thoughts


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Cocoa Futures--- Cocoa futures in the December contract is currently up 50 points at 2030 after settling last Friday at 1983 up about 50 points for the trading week as I have been recommending a bullish position from the 2010 level and if you took that trade continue to place the stop loss at 1944 & in Monday's trade that will be raised to 1960 as the chart structure is outstanding due to the fact that prices have been grinding higher.

Cocoa prices are right near a 7 week high but for the bullish momentum to continue we have to break the September 22nd high of 2047 & if that does occur I think were headed above the 2100 level as prices are still trading above their 20 & 100 day moving average telling you that the trend is to the upside.

Cocoa is my only recommendation out of the soft commodities as there has been a lot of sideways action, however we're headed into the strong demand season as the risk/reward are still in your favor so continue to play this higher while placing the proper stop loss and if you did not take the original trade wait for some type of price retracement before entering.TREND: HIGHERCHART STRUCTURE: EXCELLENT

If you are looking to contact Michael Seery (CTACOMMODITY 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 youre 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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