Softs

Reuters – SOFTS-Cocoa rallies on speculative buying, Ivorian unrest

Posted 05/12/2017 3:16PM CTPeter Mooses

“Last week’s COT report showed oversold levels, traders bought back in the market this week and covered their positions. Technically, key levels have been met and broken – a close above 2000 would solidify the short-term turnaround,” said Peter Mooses, senior market strategist for RJO Futures in Chicago.

 

To read the rest of the article with more of Peter’s comments, click here.

Peter Mooses

Follow Peter on Twitter @PMoosesRJO. Peter's interest in trading began during a college internship with Bunge North America on the floor of the Chicago Board of Trade, where he assisted commodities traders and performed market research and analysis. Upon earning a B.A. in economics from the University of Iowa, Peter served as an analyst, transaction manager and team lead in the Global Trust Divisions for LaSalle Bank and Bank of America, where he managed transaction activity in multi-million dollar client fixed income and asset-backed securities portfolios. After years in the banking industry, it became apparent that Peter's real passion lies in futures trading. He joined RJO Futures because he enjoys the analytical aspects of futures trading and appreciates the economic impact that commodities have across all markets. Peter believes in utilizing market analysis and trends to help clients achieve balance between risk and return, while always keeping their investment objectives top of mind.