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I Remain Bullish Cotton Prices


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Cotton Futures--- Cotton futures in the March contract are currently trading lower by 35 points at 72.93 consolidating the recent move up in price over the last 3 sessions as I have been recommending a bullish position from around the 70.50 level and if you took the trade the stop loss has been raised to 69.53 & in Wednesday's trade that will be raised to 69.88 as the chart structure improves on a daily basis as the monetary risk will be lowered.

Large managed funds are currently long about 70,000 contracts as they think prices are headed higher, but the 73 level has been extremely difficult to break & if that does happen you have to think that the bullish momentum would continue in the short term.

The main reason for the recent run-up in prices is the fact that there is strong demand for cotton at the present time as harvest is almost completed in the southern part of the United States as bullish fundamental news has finally pushed prices higher so continue to play this to the upside.

I will be recommending another bullish position once the chart structure tightens up later this week so keep a close eye on this market especially on any price retracement as many of the commodity sectors are lower across the board today due to the fact that the U.S dollar is up about 40 points.

Prices are still trading above their 20 and 100 day moving average as the trend is higher coupled with the fact that the volatility has also increased as that has been the problem with the commodities this year as the volatility has been very low but is starting to break out of that shell.

TREND: HIGHER

CHART STRUCTURE: IMPROVING

VOLATILITY---AVERAGE

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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