cocoa futures – trade idea
This is a sample of Brian’s email newsletter, The Cullen Outlook.
This is from the Trade Idea portion from Friday July 15th.
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Staring right at this recent run-up in the Cocoa market and where resistance has come in on previous rallies this year. The trendline has been rejected in the overnight and I like the idea of getting involved and risking just over that last reaction high.
SELLING to enter at 31.40 (GTC) …last traded 31.33
Risk will be the 32.00 level …($600.00)
Objective will be the 29.90 level …$1,500.00
(short term obj will be the 30.70 level …$700.00)
Initial margin is $1,815.00 per contract
Check out the September Cocoa chart…
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