Cotton Futures—Cotton futures in the July contract are currently trading at 77.37 after settling last Friday in New York at 78.27 down about 90 points for the trading week as prices are right near a 3 week low.
Harvest is in full swing in the southern part of the United States as ideal weather conditions are at hand as prices are now trading below their 20 day but still above their 100 day moving average as the trend is mixed as I am currently sitting on the sidelines waiting for something to develop.
Volatility in cotton has come to a crawl over the last several weeks, however that situation will change dramatically as we enter the summer months as that historically speaking is the most volatile time for cotton due to the fact that we can experience adverse weather conditions.
For the bullish momentum to continue prices would have to crack the April 9th high of 79.57 and for the bearish momentum to accelerate prices would have to break the April 15th low of 76.30 as a breakout is looming due to the tight chart structure.
CHART STRUCTURE: EXCELLENT
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.