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Cotton Prices Hit A 9 Week High


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Cotton Futures--- Cotton futures in the March contract are currently trading at 69.63 after settling last Friday in New York at 69.14 up about 50 points for the week as I will be recommending a bullish position if prices close above 69.67 while then placing the stop loss under the 10 day low standing at 68.34 risking around $700 per contract plus slippage and commission.

The chart structure in cotton is outstanding at the present time as we are close to breaking out of an 8 week tight consolidation as prices are still trading above their 20 and 100 day moving average telling you that the trend has turned higher as the risk/reward is in your favor in my opinion.

Harvest in the southern part of the United States should be around 75% complete after this weekend as that should be wrapped up in the next several weeks as we will now focus on 2018's crop as demand has come back into this commodity as that is the main reason why prices have stopped their bearish trend.

The U.S dollar is near a 4 week low as that will start to help the agricultural markets as exports should start to increase especially if that trend continues to the downside so make sure that you risk 2% of your account balance on any given trade as a proper money management technique.

TREND: HIGHER

CHART STRUCTURE: OUTSTANDING

VOLATILITY---LOW

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 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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