coffee futures trade idea – cullen outlook – formation finder
This is a sample of Brian’s email newsletter, The Cullen Outlook.
This is from the Formation Finder portion from November 10th.
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Good Afternoon—
December COFFEE:
We highlighted the BEARISH ENGULFING candlestick on Tuesday when we closed below Monday’s open of 170.00
167.50 was Tuesday’s closing price.
Today we formed a 2nd BEARISH ENGULFING candlestick with the close below yesterday’s open of 165.20
161.85 is today’s closing price.
The symbol for December COFFEE is KC-MZ6
The Bearish Engulfing Formation is #11 in my new candlestick guide.
- So what is it? More importantly, how do you trade it?
- What other formations should you have in your arsenal?
*** Click the link below and request your copy today! ***
How-To Guide: 12+ Candlestick Formations Every Technical Trader Should Know
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If you are involved already, great job! Is it time to add another?
If you are still interested, consider the old resistance 156.00 level as a possible target or the trendline from June (152.00?)
Take a look at this week’s price action…
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This material is conveyed as a solicitation for entering into a derivatives transaction.
This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.
Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.
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