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How High Are Cotton Prices Headed ?


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Cotton Futures---Cotton futures in the March contract are trading sharply higher for the 2nd consecutive session closing higher by around 128 points at 73.42 continuing its bullish momentum which is getting stronger on a daily basis as I have been recommending a bullish position from around the 70.50 level while placing the stop loss under the 10 low which now has been raised to 68.79 as the chart structure will improve on a daily basis.

Harvest in the southern part of the United States is almost complete as all the bad fundamental news has already been dictated into the price in my opinion as I still think that prices could retest the September 11th high of 74.20 possibly in tomorrows trade so stay long as I'm still looking at possibly recommending another bullish position once the chart structure tightens up which still could be several days away.

Prices are trading far above their 20 and 100 day moving average telling you that the trend clearly is to the upside as the original recommendation was due to the fact that we broke out of a 9 week consolidation which is that is a very good technical indicator in my opinion so stay long as who knows how high prices can go I do think higher prices are ahead despite possible overbought conditions at the present time.

TREND: HIGHER

CHART STRUCTURE: POOR

VOLATILITY---HIGH

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

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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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