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Weekly Newsletter #1054 Trading Signals Directly to your Inbox; Cotton Futures Review & Trading Levels for Week Ahead 6.14.2021

Cannon Futures Weekly Newsletter Issue # 1054

Dear Traders,

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Market Pick Review for the Week:

Cotton Futures

Cotton futures have been consolidating for the past few weeks after a nice upside move in sympathy with many other commodities.
While July is still the front month, the December contract has higher volume and is the lead month in my opinion.
USDA report was slightly bullish but the market is facing hard time breaking current resistance as we are somewhat in overbought territory.
Weather in Texas will be key. Mainly drought concerns.
Look to buy on breakout BUT preferably on pullbacks. The market is weather sensitive so be careful.
Weekly chart for your review below, click here for larger image and more info.
To access a free trial to the ALGOS shown in the chart along with other tools? (Arrows possible buy/sell, diamonds = possible exit/ tighten stops) visit and sign up for a free trial for 21 days with real-time data.
Good Trading

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions 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. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.

 

Futures Trading Levels

6-14-2021

 

Weekly Levels

Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading

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