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Cotton Prices Near A 3 Month High


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Cotton Futures--- Cotton futures in the March contract settled last Friday in New York at 71.93 while currently trading at 73.14 up about 120 points for the trading week continuing its bullish momentum right near a 3 month high. I have been recommending a bullish position from the 70.50 level and if you took that trade the stop loss come Monday has been raised to 69.41 as the chart structure will improve on a daily basis therefore lowering the monetary risk in next weeks trade.

Harvest in the southern part of the United States is almost complete as we will now focus on the 2018 crop as we are right near major resistance at the 74 level as I think we could retest the November 11th high of 74.20 in next weeks trade & if that is broken I think we could be off to the races to the upside in my opinion.

The agricultural markets are starting to show some signs of life as the grain market which has been in a bearish trend for quite some time is even starting to rally as the U.S stock market hit at all-time highs again due to tax cuts in the United States as that should spur commodity demand in my opinion as improving economies increase demand for every day products.

If you did not take the original trade wait for some type of price pull back as the risk is too high in my opinion at this time as I will be possibly recommend another bullish position in next weeks trade.

TREND: HIGHER

CHART STRUCTURE: POOR---IMPROVING

VOLATILITY---INCREASING

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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