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Coffee Prices Down 6th Day In A Row


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Coffee Futures--- Coffee futures in the December contract are trading lower for the 6th consecutive trading session down about 30 points at 125.15 a pound as I'm currently sitting on the sidelines, but I do think prices could retest the June 22nd low of 119.10 in the coming days ahead as I will be interested in a possible bullish position as I've talked about in many previous blogs I will not go short as I think prices are limited to the downside.

Coffee prices have hit a 14 week low continuing with its bearish momentum to the downside trading below its 20 and 100 day moving average as the weather phenomenon known as La Nia will be upon us in the coming months ahead as it is a weather phenomenon consisting of falling water surface temperatures in the tropical Pacific central and eastern ocean & can cause changes in temperature patterns and rainfall around the world and can definitely send volatility into the agricultural markets as volatility at this point is relatively low.

At the present time I only have one soft commodity recommendation as that is in the cocoa market which is grown in the the Ivory Coast of West Africa not Brazil as they are completely different markets, however I still think this is a sleeping giant as I will continue to keep a close eye on this market as a possible double bottom could be at hand in the coming days ahead.TREND: LOWERCHART STRUCTURE: POOR

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

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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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