Cotton Futures—Cotton futures are trading higher for the 3rd consecutive session up another 52 points at 79.11 as prices are right near a 4 month high continuing its bullish momentum.
I have been recommending a bullish position from around the 76.70 level and if you took that trade continue to place the stop loss on a closing basis only at 76.53 as an exit strategy as traders await tomorrow’s highly-anticipated crop report as volatility could increase tremendously. Cotton prices are trading above their 20 and 100 day moving average as the trend clearly is to the upside as I think we can head up to the 82 level especially off some type of bullish report.
I will be looking at adding more contracts in the next couple of days as adding to winners and getting out of losers is the way to trade over the course of time in my opinion.
Presently cotton is one of the strongest agricultural markets as there are still some planting concerns in the deep south as cotton prices will fluctuate due to weather conditions.
We will not produce a record crop in the United States due to lowered acres in 2019 coupled with the fact if the United States and China can come up with a trade agreement as that would be tremendously bullish for prices.
CHART STRUCTURE: IMPROVING
VOLATILITY : LOW
If you are looking to contact Michael Seery (CTA—COMMODITY 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
FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER
If you’re looking to open a Trading Account click on this link www.admis.com
Click on Members Login—-Username—coffeeshop
Click login and then click on Blog and click on the title of the story to read—Mike 630-408-3325
Click on my live chat so we can talk as well
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.