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When Will The Coffee Market Turn Bullish ?


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Coffee Futures--- Coffee futures in the December contract reversed earlier losses and now are trading higher by 50 points currently at 124.45 a pound still holding major support around the 122 level as the chart structure is starting to improve tremendously due to the fact that we are stuck in a range between 122/128 over the last 3 weeks.

Coffee is trading under their 20 & 100 day moving average as this market still remains on the defensive as ideal weather conditions in the country of Brazil is keeping a lid on prices here in the short term despite the fact that La Nia could cause problems for the coffee crop later this year and in early 2018.

At the present time I am not involved in this commodity as I'm looking at a bullish position once prices hit a 4 week high as we could be involved in this commodity possibly in next weeks trade as I will not take a short position as the downside is limited as I think coffee prices are cheap historically speaking.

Currently my only soft commodity recommendation is in sugar to the upside which is also grown in the country of Brazil as the U.S dollar is hitting a 14 week high in today's trade as that really has been the culprit to coffee and many of the agricultural markets as I do think the dollar is limited to the upside at these levels as the bullish trends in the commodity markets I think are ahead.

TREND: MIXED---LOWER

CHART STRUCTURE: IMPROVING

VOLATILITY: LOW

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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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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