We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.
Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.
Coffee Futures in the May contract are trading above their 20 day moving average and are trading 8000 points higher than their 100 day moving average that’s how far prices have come in the last 6 weeks as the drought in central Brazil continues its stranglehold on coffee growing regions pushing prices sharply higher currently trading at 198 in the May contract and I’ve been recommending a long position in coffee and if you’re still in this market I would place my stop below the 10 day low which is currently 170 as the chart structure is starting to improve & if you been reading my previous blogs I received a very interesting email last week from one of the largest coffee producers in Brazil [Read more...]