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Will La Nina Push Up Coffee Prices ?


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Coffee Futures--- Coffee futures are trading higher for the 2nd consecutive trading session up 180 points at 129.00 a pound after settling last Friday in New York at 128.05 up about 100 points for the week still right near a 14 week low as I am not involved in this market, however I'm still looking for a possible bullish position as I will not go short as I think we are right near the bottom.

There is major support around the 125 level over the last several months as traders will keep a close eye on weather conditions as La Nia which is a weather phenomenon can cause droughts in certain sections of Brazil which could send prices sharply higher over the next several months as I still think this is a sleeping giant to the upside its just a matter of when.

Coffee prices have been very choppy over the last several months with large swings to the upside and then prices seem to fall out of bed as that has been the pattern, but I do think we are bottoming out as I still think higher prices are ahead as I am waiting for better chart structure and a better risk/reward scenario before entering so keep a close eye on this market as we could be involved relatively soon.TREND: LOWER---CHART 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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