What’s Up, What’s Down: Spotlight on Softs
Comments for October 6, 2011
Looking ahead to Thursday by reflecting back on Wednesday’s Trading
BEARISHNESS ABOUNDS
SOFTS: 10/6/11
SUGAR: Sugar had just under a one hundred point range settling higher but only by eleven ticks. It’s present consolidation formation looks bearish to me meaning sugar could eventually break out lower. SELL SIGNAL. CALL FOR DETAILS.
COTTON. Cotton settled slightly higher still in a good support area but keeping me on the sidelines for now with no good direction in my opinion since July.
COFFEE: Coffee settled higher again but overall has been dropping since the beginning of September. There isn’t a good resistance area nearby however.
For trading information on Monday, October 10, 2011 [Columbus Day], please see the complete schedule posted at my website’s HOT TOPICS page
(https://www.zaner.com/3.0/market_information/hot_topics.asp)
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.