What’s Up, What’s Down: Spotlight on Softs
Comments for December 19, 2011
Looking ahead to Monday by reflecting back on Friday’s trading
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors
TROUBLE AHEAD FOR THE SOFTS FUTURES COMPLEX
SOFTS REVIEW 12/19/2011
See more softs futures charts and commentary at my Softs Futures blog, https://softsfuturesupdate.com
SOFTS: 12/19/11
SUGAR: Sugar settled higher but still has a DOUBLE TOP at 2425 in place and looks like it’s in a BEAR TRIANGLE which just means it could continue lower overall Sugar has been in a downtrend since August. SELL SIGNAL. CALL FOR DETAILS!
COTTON: Cotton weak after having an almost three hundred point trading range. There is good resistance above 9000 and much more from 9500 to 10500 and very little support underneath making its recent action very bearish looking in my opinion. SELL SIGNAL. CALL FOR DETAILS!
COFFEE: Coffee had its worst low and close since early February looking extremely bearish. Also, coffee has been in a down-trend since the beginning of September on the daily chart and May on the weekly one. There is a lot of resistance overhead all the way up to 280 buy we’ve seen coffee, many times, go through support and resistance like a ‘knife through butter’ although I’m not implying that will happen this time! SELL SIGNAL. CALL FOR DETAILS!
Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. Email Rick at ralexander@zaner.com or call toll-free (888) 281-4158.
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors. The information in this Report and the opinions expressed are subject to change without notice. All known news and events have already been factored into the price of the underlying commodities discussed.