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I Remain Bearish Cotton Prices


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Cotton Futures--Cotton futures in the July contract settled lower by 41 points to settle at 66.35 reversing some of the sharp gains that we witnessed in yesterday's trade as this market still remains bearish in my opinion.

I have been recommending a bearish position from around the 75.74 level and if you took that trade the stop loss has now been lowered to 76.31, however that will come down on a daily basis therefor the monetary risk will be reduced substantially in next week's trade.

The Chinese Yuan has hit a 4 month low against the U.S dollar as that has a negative influence on cotton prices and until some type of trade agreement with China develops I think prices continue to drip lower.

The agricultural sector has experienced a significant rally especially in the grain market due to weather conditions, however cotton planting is still ideal as weak demand is the main story for this commodity.

The chart structure will start to improve, however I will not be adding any more contracts to the downside as the risk/reward is not in your favor so stick with the original recommendation as we will keep a close eye on weather conditions in the southern part of the United States.

TREND: LOWER

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: 5da1f85979b7117b

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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