Cotton Prices Remain Strong

Cotton Futures---Cotton futures in the December contract is trading slightly lower down 12 points at 64.42 breaking a 2-day winning streak as prices are still right near a 3-month high and looks to move even higher in my opinion.

I have been recommending 2 bullish positions originally from 61.50 while then adding the 2nd contract at 63.60 and if you took those trades continue to place the stop loss under the 10-day low standing at 61.50 as an exit strategy as this market looks very strong to the upside.

Cotton conditions in the state of Texas which is the largest producer of cotton in the United States continues to go lower as I still believe this commodity will follow the grains higher as the agricultural markets have bottomed so stay long so place the proper stop as I still believe there's a possibility that the 70 level will be touched especially if the trade agreement with China & the United States is reached in the next 4 weeks.

Cotton prices are trading above their 20 & 100 day moving average as we witnessed the classic rounding bottom around the 60 level as I see no reason to be short.

TREND: HIGHER

CHART STRUCTURE: IMPROVING

VOLATILITY: HIGH

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 as I will be more than happy to help you with your trading or visit www.seeryfutures.com

TWITTER---@seeryfutures

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER

Email: mseery@seeryfutures.com

If youre 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.