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Cocoa Prices Break 4 Day Losing Streak


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Cocoa Futures--- Cocoa futures in the December contract are breaking a 4 day losing streak currently trading higher by 24 points at 2102 retracing some of the recent gains this week due to profit taking.

Prices are still trading above their 20 and 100 day moving average as the trend remains higher as I have been recommending a bullish trade for the last month or so from around the 2010 level & then recommending to add to that position around 2140 & if you took that trade the stop loss remains at 2028, however in 2 trading days that will be raised to 2057 as the chart structure will start to improve on a daily basis therefore lowering the monetary risk.

Cocoa volatility is still relatively low just like all the commodity sectors are presently, but I still think we could crack the October 25th high of 2160 & then pass the 2200 level in the coming weeks ahead as we head into the strong demand season for chocolate so continue to stay long & continue to place the proper stop loss.

There are very few bullish trends out there except the stock market, copper, and the lumber market as cocoa continues to grind higher on a slow basis, but I still think there's room to run to the upside as the risk/reward are still in your favor.TREND---HIGHER---CHART STRUCTURE: IMPROVING---SOLID

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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