FuturesCom Investment Publications
Bi-Weekly Investment = Outlook II=20 January 18th = 1999
Dedicated to Excellence in = Analysis of=20 Futures Markets
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. = Livestock..=20 Softs
Featuring Bi-Weekly Investment = Outlooks, Special Reports, Morning Comments =
Experienced Since 1979 & Serving Professional = and=20 Individual Futures Traders World Wide since 1988
5845 Autumn Ridge Rd Lake Worth Florida 33463=20 USA 561-433-2995 http://www.futurescom.com =20

"Among the hazards of speculation the happening = of the=20 unexpected -I might even say the unexpectable - ranks high. There are = certain=20 chances that the most prudent man is justified in taking - chances that = he must=20 take if he wishes to be more than a mercantile mollusk--" = Reminiscences of=20 a Stock operator.

01/18/1999 10:16 AM

On the Frenzied Forex Front

March Japanese-Yen

Support is at 8742 where traders should buy for a good = bounce, risk=20 a close under 8734 for three days in a row. Below that good buyers = should appear=20 near 8690 and 8595 to 8589 and 8560. Traders should buy at 8575 and hold = for=20 higher prices.

Resistance is at 8842 to 8847, aggressive traders can sell at = 8847, risk=20 a 8877 Beyond that resistance is at 8913 and 8934 to 8964. Above that = sellers=20 should appear near 9044 to 9060. Traders can go short at 9044, risk a = close over=20 9060 for two days in a row. Beyond that resistance is at 9140 and 9156. = A close=20 over 9226 is friendly and augurs for a test of 9316 to 9347 where = traders should=20 sell at 9330 and hold for lower prices.

March D-Mark

Support is at 5942, a close under augurs for a test of 5892 and = 5868 to=20 5855.Traders can buy at 5865 for a good bounce, initially risk a close = under=20 5855 for three days in a row. Below that Support should be evident near = 5805 to=20 5792 and 5729 to 5716 where traders can buy at 5729 and hold for higher = prices.=20

Resistance is at 5957 then 5968. Aggressive traders can sell = at 5957=20 for a turn lower, risk a close over 5968 for three days in a row. Beyond = that=20 resistance is near 5992 and 6023 to 6035 and 6042. Traders can go short = for a=20 quick turn lower at 6022, risk a close over 6042 for three days in a = row. Beyond=20 that good sellers should appear near 6101 to 6113. A close over 6113 = augurs for=20 a test of 6165 to 6190 and 6257 to 6270. Traders can go short at 6257 = then hold=20 for lower prices.

March Swiss

Support is at 7280 and 7257 to 7242. Traders can go long at = 7257=20 risk a close under 7242 for three days in a row. Under that support = should=20 appear near 7190 to 7180 and 7170, traders can go long at 7170 and hold = for=20 higher prices.

Resistance is at 7328 to 7342 Aggressive traders can sell at = 7340=20 for a turn lower. Risk a close over 7380 for two days in a row. Above = that=20 resistance is near 7414 to 7428. Beyond that 7452 to 7456 offers = resistance,=20 traders should go short at 7452, risk a close over 7486 for two days in = a row.=20

March British Pound

Support is at 1.6484 to 1.6420 and 1.6308. Traders can go = long at=20 1.6420, for a turn higher risk a close under 1.6286 for two days in a = row. Below=20 that the 1.6150 to 1.6090 region offers good support, traders can go = long at=20 1.6150 then hold for higher prices.

Resistance is at 1.6550, an extended trade over 1.6640 indicates = a likely=20 test of 1.6720. A close over augurs for a test of 1.6890 then 1.6960 = where=20 traders can go short at 1.6960 and hold for lower prices. =

March Canadian Dollar

Support should appear at 6522 and the 6509 to 6483 region. = Below=20 that support should appear near 6468 and 6430 to 6417

Resistance is at 6572 to 6591. Traders can go short for a = quick turn=20 lower at 6572, risk a close over 6591 for two days in a row. Beyond that = sellers=20 should appear near 6627 and 6657. Traders can short at 6627 for a good = turn=20 lower, risk a close over 6677 for three days in a row.

Traders should go short if a close under 6519 occurs.

Precious Metals
Feb. Gold recommended = position long at=20 286.40
April Gold recommended position Long 2 at 295.70

Support is near 288.60 and 285.70 to 284.1, below = that 282=20 should hold.

Resistance is near 290.5 and 294.3 to 295.7. A close over = 295.7 is=20 friendly and augurs for a test of 304 to 305.

March Copper:

Support is at 6590 to 6575. Traders can buy at 6590, risk a close = under=20 6575 for three days in a row. Below that Buyers should surface near 6510 = to=20 6480. Traders can go long at 6510 and hold for higher prices.

Resistance is at 6670 and 6740 to 6755. A close over 6755 = indicates=20 a test of 6865 to 6920. Beyond that resistance is near 7035 and 7070 to = 7085.=20 Traders can go short for a turn lower at 7035, risk as close over 7090 = for three=20 days in a row. Beyond that 7140 to 7170 offers = resistance.

April Platinum recommended position long at 366.5 and = 362.5

Support should appear near 351.7 and 349.5 below that 345.1 = should=20 bring out buyers. Below that 339.4 offers support and should contain a = break.=20

Resistance is at 355.5 and 359.5 to 361. A close over 359.5 = is=20 friendly and indicates a test of 365.1 and 372. Traders should go long = if a=20 close over 359.5 occurs, risks a close back under 349. =

March Silver long 2 at 525

On the DownSide: Nearby Support is at 511 and 506.8, aggressive = traders=20 can buy at 506 risk a close under 495 for three days in a row. Below = that good=20 buyers should appear near 480.5. Traders should buy at 485.5, risk a = close under=20 480 for three days in a row.

On the Upside. Resistance is at 519.5 to 521, a close over = 521 is=20 friendly and augurs for a likely test of the 531 region. Beyond that = good=20 sellers should appear near 541. Beyond that 555 to 560 should stop a = rally for a=20 bit. Traders should go long if a close over 521 occurs.

Buy Dips...

The Exciting Energies
March Crude

Nearby Support is at 1215 to 1203. Aggressive traders can = buy at=20 1215 risk a close under 1203 for three days in a row. Below support is = at 1192=20 and 1172 to 1164 where it should hold. However a close under 1165 augurs = for a=20 slip to the 1142 to 1130 region. Traders can go long at 1142, risk a = close under=20 1101 for three days in a row. Below that 1068 to 1058 should contain a=20 break.

Early Resistance is at 1222 and 1240. A close over 1240 = augurs for a=20 test of the 1268 to 1274 region and most likely 1304 to 1319 then 1334 = to 1346.=20 A close over 1346 is friendly and indicates a test of 1377 to 1383 and = 1415 to=20 1421. Traders can go short at 1415, risk a close over 1453 for three = days in a=20 row. Traders should go long if a close over 1240 occurs.

Trade Accordingly

March Unleaded Gas

Support is at 3650 and 3623 below that buyers should appear = near=20 3585 and 3503 to 3493. Traders can buy at 3585 for a turn higher risk a = close=20 under 3480 for 2 days in row. Below that support is at 3443 to 3420. = Under that=20 the 3365 to 3325 region should hold.

Resistance is at 3663 and 3685, beyond that resistance is at = 3735 to=20 3745 and 3785. A close over 3745 is friendly and augurs for an eventual = test of=20 the 3850 to 3865 region. Beyond that sellers should appear near 4055. = Traders=20 can go short at 4055 for a turn lower, risk a close over 4110 for three = days in=20 a row.

Feb. Heating Oil recommended position long at 3365. =

Risk a close under 3213 for two days in a row.

March Heating Oil

Support is at 3260 to 3245, Aggressive traders can buy at = 3245, risk=20 a close under 3203 for three days in a row. Below that 3115 and 3035 = offer=20 support.

Resistance is at 3314 to 3328 and 3359. A close over 3359 = augurs for=20 a test of 3490 to 3503 and most likely the 3613 /3623 region.

Trade Accordingly.

The Grande Grains
March Soybeans

Support is at 530 3/4 and 528 then 517. Below that 513 3/4 to 512 = 3/4=20 should contain a break. Traders can go long at 514 for a turn higher, = risk a=20 close under 505 1/2 for three days in a row

Resistance is at 537 3/4 and 542 to 544 3/4. A close over 542.5 = is=20 friendly and augurs for a test of 552 and 556 to 558. Traders should go = long if=20 a close over 542.5 occurs.

March Soybean Meal

Support is at 133.4 to 132.5 and 131.9 to 129.4, below that = 127.4 to=20 126.8 should hold. Traders can buy at 127.4 and hold for higher prices. =

Resistance is at 134.6, a close over indicates a test of = 137.7 to=20 138.3. traders can go long if a close over 134.6 occurs. Risk a close = under=20 133.4 for two days in a row. Beyond that resistance is at 143, above = that 145.3=20 to 145.9 should cap a rally, traders can go short for a turn lower at = 145.3.=20 Risk a close over 148.4 for three days in a row. =

March Soybean Oil

Support is at=20 2322 to 2315 and 2275 to 2262, = traders can go=20 long for a good turn higher at 2275, risk a close under 2251 for three = days in a=20 row. Below that the 2236 to 2219 region should contain a decline for a = bit.=20

Resistance is at 2336 and 2354 then 2379, Traders can go = short at=20 2379 for a turn lower, risk a close over 2419 for three days in a row. = Beyond=20 that resistance is at 2461 to 2469.

March Corn

Support at 211 3/4 and 208 1/2 then 207. Traders can go long = at 212=20 3/4 bounce, risk a close under 204 for two days in a row. Below that 198 = 3/4=20 should hold.

Resistance is at 216 3/4 and 221 1/4 to 222 3/4. Traders can = go=20 short at 221 3/4 for a quick turn lower, risk a close over 227 3/4 = beyond that a=20 test of 231 1/2 is likely.

March Wheat recommended position long 2 at 281

Support is at 275 3/4 to 274 3/4 and 268. Below that 265 to 262 = offers=20 support and should bring out buyers

Resistance is at 277 1/2, a close over augurs for a test of = the 280=20 3/4 and the 286 to 289 region. Beyond that resistance is at 292.

The Satisfying Softs
March Cotton

Resistance should appear near 6023 to 6040. A close over = 6040 augurs=20 for a test of 6098 to 6113 then 6140 and eventually the 6165 to 6195 = region.=20 Beyond that resistance is at 6255 to 6270. Traders should go long if a = close=20 over 6023 occurs.

Early Support is at 5945/ 5940 and 5898. Aggressive traders can = buy at=20 5940, risk a close under 5880 for two days in a row. Below that 5855 to = 5840=20 should hold. Under that 5805 to 5792 should contain the decline for a=20 bit.Traders should go long if a close over 6072 occurs. =

March Sugar

Support is at 841 to 837 and 826. Traders can go long at = 838, risk a=20 close under 823 for three days in a row. Below that support is at 814 = and 801=20 where a decline should hold. Below that buyers should appear near the = 795 to 791=20 region. Traders can buy at 795 for a good bounce, risk a close under 790 = for=20 three days in a row. Under that 767 to 763 should hold.

Resistance is at 847 to 852, a close over 852 is friendly = and=20 indicates a test of the 877 to 881 region and eventually 907 to 912. = Beyond that=20 resistance is at 922 then 932 to 941. Above that sellers should appear = near 968=20 to 972.

Traders should go long if a close over 852 occurs. =

March Coffee:

On the downside, Early support is at 115.00 to 114.60 = and=20 114.00. Aggressive day traders can buy at 114.65 and hold for higher = prices.=20 Below that support is at 113.60 to 113.00 and 112.55 to 112.15 where = traders=20 should buy at 112.15, risk a close under 110.10 for three days in a row. = Below=20 that 109.60 should contain a decline for a bit.If not 106.80 to 105.80 = offers=20 good support as does 103.60 to 103.20. Hearty traders should go long at = 103.75=20 and hold for higher prices.

On the Upside, Resistance should appear near 116.15 to = 116.40. A=20 close over 116..40 is friendly and augurs for a test of 116.90 to = 117.15. A=20 close over 117.15 indicates a test of 118.05 and eventually a touch of = the=20 119.20 to 120.30/ 121.10 region. Beyond that Resistance is at 121.75. A = close=20 over 121.75 augurs for a test of 123.20 to 123.80 then 126.80 to 127.40. = Buy=20 Dips

Trade Accordingly.

March Cocoa Recommended position short at 1383

Nearby Support is at 1346 to 1334 and 1319 to 1304. Traders can = buy at=20 1319 for a turn higher, risk a close under 1304 for three days in a row. = Below=20 that 1279 to 1268 offers support.

Resistance is at 1359, aggressive traders can sell at = 1359,=20 risk a close over 1365. Above that resistance is at 1377 to 1383 = then=20 1404. Beyond that resistance should appear near the 1415 to 1421 region. =

The Lively Livestock
April Cattle

Resistance is at 6637 and 6672. Traders can sell at 6672 for a = quick turn=20 lower. Risk a close over 6757 for two days in a row. Beyond that = resistance is=20 at 6807 to 6837 and 6907 to 6917.

Nearby Support is at 6592 to 6577 and 6522 to 6492, traders = can buy=20 at 6522 for a good turn higher, risk a close under 6477 for three days = in a row.=20 Below that 6432 should hold, traders can buy at 6432 for a good bounce,=20 initially plan on risking a close under 6427 for two days in a row. = Below that=20 6257 offers good support

Feb. Hogs

Nearby Support is at 3972 and 3872, below that 3812 should hold = for a=20 bit. Traders can buy at 3807 for a good bounce, risk a close under 3792 = for=20 three days in a row. Below that buyers should appear near 3682 and 3622. =

Resistance is at 4012 and 4072. A close over 4072 is = friendly and=20 indicates a test of 4162 to 4172. Beyond that sellers should appear near = 4237=20 and 4287 then 4302 to 4317.

April Hogs recommended position short at 4307

Resistance is at 4252 to 4267 then 4302 and 4352 to 4367. = Traders=20 can sell at 4352 for a quick turn lower, risk a close over 4367 for two = days in=20 a row. Above that resistance is at 4447, beyond that 4572 to 4582 to = should cap=20 a rally. Traders can go short at 4572 and hold for lower prices.

Support is at 4167 to 4152, a close under 4152 augurs for a slip = towards=20 4117 and the 4057 to 4047 region, below that support is at 3982 then = 3932 and=20 the 3867 to 3857 region. Below that 3807 should hold.

From the Frying Pan into the Fire--
Feb. Bellies recommended position short 2 at 5152

Nearby Support should appear near 5292 and 5142 to 5117. A close = under=20 5117 is negative and indicates a test of the 4907 to 4857 region. =

Resistance is at 5417 and 5442 beyond that good sellers should = appear=20 near 5577 to 5590 and 5623 to 5652 then 5717. Beyond that sellers should = appear=20 near 5812. Stay tuned for Updates and flashes in the Pigs... =

The Sensational Stock and Bond Markets =
March Bonds

On The DownSide, nearby support is at 126-08 to 126-04m, a close = under=20 126-04 augurs for a test of the 125-05 to 124-24 region. Traders can buy = at=20 125-04 for a good 2-3 day bounce, risk a close under 124-24 for three = days in a=20 row. Below that buyers should appear near 124-12 and 123-24.

On the Upside: Resistance is at 126-25 and 127-04 beyond = that=20 resistance should appear near 128-04. Traders can go short at 128-05, = risk a=20 close over 128-12 for three days in a row. Beyond that good resistance = should=20 appear near 129-05.

March SP500

On the DownSide, Nearby Support at 1256.70 then 1253 and = 1250.90, traders can buy at 1250.90 for a quick bounce, put your own = risk on it=20 and stay tuned. Below that support is at 1238.00 and 1234.90 to 1232. A = close=20 under 1232 is negative and indicates an eventual test of 1224.70 and = 1218. Below=20 that 1203 to 1192 should hold for a bit.

On the Upside, Resistance is at 1260.90 and 1266.90 then = 1268.=20 Traders can go short at 1268 and hold for lower prices, put your own = risk on it=20 and stay tuned. Beyond that Sellers should appear near 1271 and 1274. A = close=20 over 1274 augurs for a test of 1286 to 1289. Beyond that 1304 should Cap = a=20 Rally. Traders Who Have Ice Water Running Through Their Veins can go = short at=20 1304 and hold for lower prices, initially plan on risking a close over = 1311.5=20 for three days in a row. Beyond that 1319 should bring put sellers.=20

Dow Jones Industrial Avg.

Support is at 9331 and 9316 then 9232 and 9156 to 9140, a close = under=20 9140 is negative and augurs for a test of the 9060 to 9044 region. Below = that=20 9064 to 8934/ 8929 should hold.

Resistance is near 9347. Above that sellers should appear near = 9429 to=20 9445/ 9448 and 9526 to 9542 beyond that 9618 to 9625. 9641 offers good=20 resistance. A close over 9641 augurs for a test of 9707 to 9737. Above = that,=20 9821 to 9837 should Cap a Rally for a bit..

A ship in Harbor is Safe.. But that's not what ships are built=20 for.
Happy Trading
Bill
01/18/1999 2:36 PM
Copyright@1999 FuturesCom Investment Publications
All Rights Reserved
FuturesCom is Not Responsible for Transmission Errors and=20 Omissions.
THIS PUBLICATION CONTAINS THE VIEW AND OPINIONS OF THE AUTHOR, EXCEPT = WHERE=20 OPINIONS ARE ATTRIBUTED TO OTHER SOURCES. WRITTEN PERMISSION IS. = REQUIRED PRIOR=20 TO ANY DISTRIBUTION OR REPRODUCTION. FUTURES TRADING IS RISKY AND CAN = CAUSE=20 SUBSTANTIAL FINANCIAL LOSS. THE USE OF OPTIONS AND OPTION TRADING = INVOLVES A=20 HIGH DEGREE OF RISK. THE USE OF STOPS MAY NOT LIMIT LOSSES TO INTENDED = AMOUNTS.=20 SPREAD POSITIONS MAY NOT BE LESS RISKY THAN OUTRIGHT FUTURES POSITIONS. = PAST=20 RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. SOURCES ARE = BELIEVED=20 TO BE RELIABLE BUT NO ASSURANCE IS MADE FOR ACCURACY. ADDITIONAL RISK = DISCLOSURE=20 IS AVAILABLE.