
Coffee Futures—Coffee futures in the December contract settled last Friday in New York at 132.45 a pound while currently trading at 113.90 down over 1800 points for the trading week as prices have now hit a 4 week low.
At the present time the risk would be around $7,000 which is way too much so be patient I do think a bottom has been formed, but rain has come back into key coffee growing regions in the country of Brazil as that has sent prices sharply lower here in the short-term.
Coffee prices are trading below their 20 day but still slightly above their 100 day moving average as the trend is mixed to lower so be patient while trying to take advantage of these depressed prices which this situation has become as I will not go short.
TREND: LOWER
CHART STRUCTURE: POOR
VOLATILITY: HIGH
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
TWITTER—@seeryfutures
Email: mseery@seeryfutures.com
If you’re 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.