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Where Are Cotton Prices Going ?


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Cotton Futures---Cotton futures in the December contract which is considered the new crop and is currently being grown in the southern part of the United States settled last Friday in New York at 67.07 while currently trading at 66.00 looking to retest the contract low which was hit on May14th at 65.25 in my opinion.

At the present time I am not involved in cotton as my only soft commodity recommendation is a bullish coffee trade as the chart structure is starting to improve in this commodity as we could be involved once again. Cotton prices are trading under their 20 and 100 moving average as the trend is to the downside as we have consolidated over the last month as I had been recommending a short position in the month of April when prices collapsed.

Weather conditions are ideal at the current time as planting is in full swing as the situation in cotton is very different from the situation in the grain market as the trade war with China and possibly with Mexico certainly is negative towards cotton prices in the short-term.

Traders are awaiting next week's crop report which should send volatility back into this market as the volatility at the current time is relatively low as that will not remain as we enter the summer months which generally expands volatility to the upside so keep a close eye on this market as we could be involved in next week's trade.

TREND: ----LOWER

CHART STRUCTURE: IMPROVING

VOLATILITY: LOW

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

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TWITTER---@seeryfutures

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Email: mseery@seeryfutures.com

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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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