Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources.
By: Larry Baer, senior broker at Zaner Group.
Cotton #2 futures declined today (5/16) following two sessions of modest gains.
This move lower for July cotton #2 futures gives me a fresh sell signal on the daily chart. Today’s sell signal on the daily chart comes after a two trading session pause in the cotton’s downwards move and there is little support below. On the weekly chart the trend is down and cotton gave a sell signal two weeks ago. So far this month cotton is showing a sell signal for the month of May and there is some support around the 72 level.
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Futures, options and forex trading is speculative in nature and involves substantial risk of loss. All known news and events have already been factored into the price of the underlying commodities discussed.
- Judy Crawford’s Softs futures Market Update (5/16)
- Rick Alexander’s Softs futures commentary (5/16)
- Sugar #11 futures show a sell signal (5/08)
- Judy Crawford’s S&P 500 futures Market Update (5/16)
- Live Cattle & Feeder Cattle futures give buy signals (5/15)
- Judy Crawford’s Grain futures Market Update (5/16)
- Rick Alexander’s Stock Index futures commentary (5/16)
- Metal complex tumbles, Gold futures generate a sell signal (5/11)
- Rick Alexander’s Energy futures commentary (5/16)
- Heating Oil & Gasoline RBOB show sell signals (5/14)
- Judy Crawford’s Metal futures Market Update (5/16)
- Rick Alexander’s Currency futures commentary (5/16)
- Judy Crawford’s Crude Oil futures Market Update (5/16)
- Markethead: Quotes, charts, news, commentary and more.
Rick Alexander’s Softs futures commentary (5/18)
Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources.
By: Rick Alexander, senior broker at Zaner Group.
SOFTS: 5/18/12
LUMBER: Lumber futures have rebounded nicely so far from its Wednesday’s housing reports to settle higher this time. The fact remains it’s still in a critical resistance area that goes up to 295 (heaviest from 280 to 290) and now is looking down at support below 275 down to the 265 area. Looking at the chart below one can also say thay lumber is in a potential bottoming formation and/or a BULL TRIANGLE. Stay tuned! For additional customizable charts, commentary, news and quotes visit Markethead.com. BUY SIGNAL. CALL FOR DETAIL AT (312) 277-0107 OR EMAIL ralexander@zaner.com!
COCOA: Cocoa futures settled lower still looking like it’s retracement rally is over while possibly forming a rounding top which is one of the reversal formations that I have had little success with and is still in a strong looking resistance area that goes from 2300 to the 2450 level and has been trending lower since February 2011 overall on the weekly chart. However, it has been retracing higher since early April and has been attempting to break out of its trading range over the last week or so. For additional customizable charts, commentary, news and quotes visit Markethead.com. SELL SIGNAL. CALL FOR DETAILS AT (312) 277-0107 OR EMAIL ralexander@zaner.com!
SUGAR: Sugar futures settled higher for its fourth session in a row and is attempting to form a bottom but I would like to first see a close over 2100 before I would begin to see a potential turnaround. There’s strong resistance above 2250 up to 2350 basis the July contract while looking very bearish dropping since March. However, that means the room for a retracement rally is substantial. For additional customizable charts, commentary, news and quotes visit Markethead.com. SELL SIGNAL. CALL FOR DETAILS AT (312) 277-0107 OR EMAIL ralexander@zaner.com!
COTTON: Cotton futures made its worst low and cose August 2010 looking very bearish but way oversold! However, there’s tremendous resistance above 8800 in a very strong down-trending market. For additional customizable charts, commentary, news and quotes visit Markethead.com. SELL SIGNAL. CALL FOR DETAILS AT (312) 277-0107 OR EMAIL ralexander@zaner.com!
COFFEE: Coffee futures made its best close since May 5th but we’ve seen this type of action before all the way down! There’s, good resistance from 180 up to 190 (hasn’t settled over since March 8th) and it’s downtrend is obviouly one of the most bearish of all commodites that has been falling since the beginning of September. At least it’s been consolidating over the last one and a half months really needing to hold the 17500 area. For additional customizable charts, commentary, news and quotes visit Markethead.com. SELL SIGNAL. CALL FOR DETAILS AT (312) 277-0107 OR EMAIL ralexander@zaner.com!
ORANGE JUICE: O.J. futures made a new CONTRACT LOW AND CLOSE and has been falling since the beginning of February. Its as bearish a looking market as you can find! Looking at the chart below shows a strong bear market since January. For additional customizable charts, commentary, news and quotes visit Markethead.com. SELL SIGNAL. CALL FOR DETAILS AT (312) 277-0107 OR EMAIL ralexander@zaner.com!
Rick Alexander
(312) 277-0107
ralexander@zaner.com
Zaner Group
Subscribe FREE to Zaner Group’s Daily Research Newsletter.
Futures, options and forex trading is speculative in nature and involves substantial risk of loss. All known news and events have already been factored into the price of the underlying commodities discussed.