Here Is My Cotton Trade

Cotton Futures---Cotton futures in the March contract is currently trading at 66.60 as prices have now traded to a 5 month high as I am now recommending a bullish position while placing the stop loss under the November 21st low of 63.70 as the risk is $1,500 per contract plus slippage and commission.

Cotton prices settled last Friday in New York at 66.00 up about 80 points for the week on optimism that a U.S trade agreement with China could be finalized today as that would be a very bullish fundamental factor towards prices as China is the number one importer of U.S cotton. Prices are trading above their 20 and 100 day moving average as the trend has turned to the upside as the chart structure is outstanding at the current time as the volatility is also starting to increase.

At the current time my only other soft commodity recommendation is a bullish sugar trade which continues to grind higher on a daily basis as the entire agricultural market across the board looks to have bottomed out in my opinion as they have been depressed by the lack of a trade agreement, but that looks to be behind us so play this to the upside.

TREND: HIGHER

CHART STRUCTURE: EXCELLENT

VOLATILITY: INCREASING

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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