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Cotton Prices Sharply Higher This Week

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Cotton Futures--- Cotton futures in the March contract is trading higher for the 2nd consecutive session up another 80 points at 71.93 after settling last Friday in New York at 69.35 up about 260 points for the trading week as I've been recommending a bullish position from around the 70.50 level & if you took the trade continue to place the stop loss under the 10 day low which remains at 68.62 for the next 4 trading days.

Harvest is around 90% complete in the southern part of the U.S as I still think higher prices are ahead due to the fact of strong worldwide demand coupled with the fact that the U.S dollar has now hit a 6 week low which is definitely supporting cotton prices here in the short term.

Cotton prices are at levels we haven't seen since September 11th with the next major level of resistance near the 74 area as there is room to run in my opinion as the chart structure is starting to become poor due to the fact of the recent run-up in prices, however when the original recommendation took place the chart structure was outstanding as we had just broken out of a 9 week tight consolidation pattern.

Volume was light in today's trade due to the fact of the shortened holiday week as Thanksgiving was yesterday and Black Friday is today as many people are shopping instead of trading as we will be back to a regular schedule Monday morning.




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

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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