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Are Coffee Prices Going Lower ?


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Coffee Futures---Coffee futures in the December contract settled last Friday in New York at 126.45 a pound while currently trading at 124.70 down about 170 points for the trading week continuing its bearish to choppy trend still possibly looking at retesting the June 22nd low of 119 in my opinion as the commodity markets at this time are extremely slow with sideways trends.

In my opinion I think a bottoming formation is occurring in coffee as there is just very little fresh fundamental news to push prices in either direction except for the fact that La Nia the weather phenomenon that could develop later this year or early next year could produce weather problems in the country of Brazil which is the largest producer of coffee in the world, but at this point in time traders are still expecting a large crop out of that country.

Coffee is still trading under their 20 and 100 day moving average as volatility still is relatively high, but not for such a volatile market historically speaking as I will not take short position in this commodity, but I will keep a close eye as we could be still involved in a couple weeks down the road so look at other markets that are beginning to trend with better chart structure.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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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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