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Sugar Prices Down 39 Points


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Sugar Futures--- Sugar futures in the March contract finished down 39 points at 14.98 a pound starting the week off on a negative note as many of the soft commodities except for cotton were lower in today's trade.

I have been recommending 2 bullish positions with an average price around 14.74 and if you took those trades the stop loss has now been raised to 14.62 as the chart structure is outstanding at the present time as that also will be raised later in the week therefore lowering the monetary risk even more.

Sugar prices are still trading above their 20 &100 day moving average as this trend still remains higher despite today's activity which was blamed on profit-taking as most commodity sectors were lower across the board.

Sugar prices hit a 14 week high last Friday as I still think the trend is intact despite today's losses so continue to place the proper stop loss and if you were not involved in the trade I would still recommend it at today's price levels as the risk is around $400 per contract plus slippage & commission. For the bullish momentum to continue we have to break last Fridays high of 15.46 and then bust through the August 1st high of 15.82 which I still think could happen possibly in next weeks trade as you have to remember we are in a holiday shortened trading week.

TREND: HIGHER

CHART STRUCTURE: EXCELLENT

VOLATILITY---SOLID

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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