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BI- Weekly Investment outlook


04/06/97 10:00:56 AM

On the Frenzied Forex Front.

June --Yen: Position Short at 8313. Targets 8119 then 8044
The J-Yen made new contract lows on Friday ( Week-end Rule.)
Look for an early break this week to cover shorts.

Selling pressure will be seen near 8156 Early this week. Above that Resistance is near 8190 and 8233 Where we would sell for a continuation of the trend lower. Use a stop close over 8245.
Support is near 8119 then 8044 both regions offer support where we would cover shorts if able.


The June Swiss Franc Traders who are short from last week near 7003 or higher
Look to take profits near 6893 if offered early in the week.

Selling pressure should be evident early this week near 6993 to 7017.
Above that 7049 offers selling pressure and 7074 as well.
Sell rallies
Traders should Go short near 6993 for a position and resumption of the trend lower.
Risk a close over 7055.
Early support next week is near 6932 and 6909 to 6919 the target as long as the SFM stays under 7003. Below that we would Buy near 6893 for a bounce once and risk 25 pts...

Trade Accordingly.

June British
Resistance should appear near 163.80 early this week then 164.38 where we would sell for a turn and risk 50 pts. Above that 165.50 offers good sellers.
Support is near 162.76 then 162.18 Where we would be a buyer for a turn and risk
100 pts.


June D-Mark Position Short from 6013 on the BI Weekly and 6037 on the Daily
Targets this week are 5957 and 5944 where we would cover early this week if able..
A close under 5957 augurs for a test of 5901 to 5894 Where we would cover remaining shorts and sell a rally if offered the chance.

Resistance next week should raise its head near 5994 to 6001 where we would sell and risk 30 pts or close over 6001. Support is near 5944 then 5894 buy there for a bounce only with a risk of 15 pts.

A close under 5894 indicates a test of Contract lows near 5840.

Trade accordingly..



The Precious Metals:

June Gold Longs from the Daily use a stop close only 351.90.
Resistance is near 354.30 Then 356.4
Support is near 348.60 then 344 where we would buy for a bounce and risk a trade under 341 and hold on a close over 345.

Trade accordingly.

May Copper Position Long from 108.30 use a stop close under 107.05 for protection OCO 110.15 limit.

Support is near 108.10 then 107.15 where we would buy for a bounce , use a 50 pt stop More support is near 106.15 . Hearty traders may wish to probe the long side at 106.15 and use a tight 75 pt stop.
More support is near 104.15 where we would seriously consider buying for a position. Use a stop under 103.00 basis the close.
Resistance is at 109.75 and 110.10 where we would sell our remaining long and stand aside..

Trade accordingly

July Platinum longs use a stop under 368 for two days to protect any longs
Support is near the 363.5 where we would buy for a turn higher. Resistance is near
367.5 then 373.
Go long July Platinum on a close over 367.

May Silver closed over 473: short term traders may be long for a pop into the 478 to 489 region... If so sell against 481 to exit ....
Early Support this week is near 470.5 short term traders can buy there for a bounce
More Support is near 458 where we would have buy orders waiting risk a trade under 449. for Both Trades.

Early Resistance this week is near 481 where we would sell for a quick turn and risk 5 cents. More Resistance is near 505 where we would sell for a turn lower and risk 12 cents

Stay tuned
The Exciting Energies


June Crude Oil..
We would look upon a drop into the 1877 region as a buying opportunity for June Crude.
Buy there if given the chance this week. Risk a close under 1858...
Resistance is near 1930 and 1942 to 1957. Above that we would sell near 2011 for a turn lower and risk 20 pts.
Buy when the Bloods runs on the Street

With a relative strength of only 23. All the Bulls are about gone, and any selling is now distressed..
Buy the next sharp break for a turn...or Go Long on a close over 1942 but under 1975 for a two day bounce to Resistance ...

Trade Accordingly...

May unleaded
Support is near 5810 this week where we would be a buy and risk 150- pts .
Resistance remains near 6145 then 6330. Where we would sell for a turn and risk 100 pts.
A close early in the week over 6080 is friendly and we would go long for a pop to Resistance. Stay Tuned...

June Heating Oil. .
We see Support this week near 5200 and 5140 where we would buy for a Turn and risk 100 pts.
Resistance is near 5545. Then 5645 where we would sell for a turn lower and risk
100 pts.

The Grande Grains:

All longs in May Beans should use a stop close under 855 for two more days in a row....
If you can handle it...
Support this week is near 830 to 827 1/2. Where we would Be a buyer with stop under
825. More Support is near 817.

Resistance is near 844 Early in the week Then 854 1/2 and 858. After Friday’s Wash down the Limit we would expect a lower open on Monday.. If that does not happen expect a test of 855 to 858 where we would be a seller of any remaining longs....The May Beans Need a close over 844 or a basing along 827 to 830 to maintain Composure.

Traders should use this weakness to purchase July and August Beans for the Summer months..
A close under 817 is negative this week ,. A close over 844 is Positive.....
A close over 855 Augurs for New highs....

The Spreads came in on Friday.
We still recommend Buying Sept and Selling November. We would use this Weakness to assume longs near 40 cent if able Risk a close under 30 cents Sept over Nov.

July Bean-Meal:
Protection on any longs from the Daily should set under 281 basis the close for two mores in a row .

Support near 274 and 269 where we would buy an early break this week. Use a 3.50 Stop. Resistance is near 283 then 287.

A close over 283 Early this week is bullish for a test of New Highs.. Under 274 is
Negative...

Trade accordingly...


July Bean Oil July Bean Oil from last week near 2436. Risk a close under 2390.

Support this week is near 2384 where we would buy for a turn higher. Risk 20 pts.
Resistance is near 2501 .. Sell the longs there if able

Long Term traders can go long July Bean Oil on a close over 2421 Monday.


Corn: Position Long from 302. All Longs. Use a stop close if able under 289 today only.
We will adjust it later.

Spreaders can Buy Sept Corn and Selling Dec. Add if the spread closes 4 cents Sep over
Dec
Support is near 286 in July Corn. Buy there and risk a close under 282.
Resistance is near 299. Then 303 3/4 to 305 3/4 where we would be sellers to exit longs
And Sell short for a turn Risk a close over 308..

If July corn closes over 299 the Worst may be over. A close under 287 is negative

Wheat:
July Wheat Longs from (340 /345 region) for the Pull should use a stop under 365.

Support is near 368 then 352 1/2 this week where we would be a buyer risk 5 cent.
Resistance is near 378 then 385.
A close this week over 374 1/2 pulls wheat back into a bullish pattern.

For Monday traders can Buy July wheat near 368 and risk 4 cents. Resistance is near
374 then 380.

July Oats. Longs from 173 1/4 use a stop under 156.
This week Buy dips near 156 3/4 use a 2 cent risk ...
Resistance is near 163 then 167. Then 172
A close over 167 is friendly this week. If that happens Hold longs for a rally to exit....




The Softs...

May Coffee
This week May Coffee Has support near 164.80 this week where we would buy for a two day bounce, use a 300 pt closing stop.
Resistance is near 184.50 then 193.20 where we would sell for a turn lower and risk 300 pts.


July Cotton
Support is near 7430 where we would buy as break for position, risk 100 pts.
Resistance should appear next week near 7550. A close over 7550 augurs for a test of 7700

Trade accordingly...

May Sugar Shorts from last week risk a close over 11.15...

Support this week is near 1073, a close under augurs for a pullback to 1068 then 1057. Where we would cover shorts...
Resistance is near the 1122

Trade accordingly.

May Cocoa Longs should now use a stop close under 1484 for two more days in a row t
to protect.

Next Week we see May Cocoa testing Resistance near 1519. Sell longs there if able.
Support is near 1456 where we would buy for and use a stop under 1448.
Resistance is near 1490 then 1519.
Buy Dips... Sell Rallies..


In the Lively livestock Sector:
April Cattle: Longs should exit or roll to June on Monday..

June Cattle Longs from last week near 6440. Risk a close under risk a close under 6370....for three days in a row.

Support is 6335 next week . Resistance is near 6450 then 6477.

June Hogs: June Hogs: Shorts from 8085 to 8135 Daily risk a close over 8210. From 8237 Semiweekly risk a close over 8267.

Resistance early next week is near 8207. More is located near 8262 where we would be a seller if able. Risk 70 pts.
More Resistance is near 8312.

Support is near 8170 then 8120 and 8070. A close next week under 8170 is negative for a slip into the 7940 region where we would Cover part of the shorts...
Trade accordingly.


May Bellies
Buy a dip into the 7867 region if able Risk a close under 7727.
Resistance is near 8215 this week we would sell Use a stop over 8387 basis a two day close.

Bonds

Resistance near 107-04 and 107-18. Good Resistance will appear near 107-26 to 108-02 and 108-16 where we would go short and risk 10 pts. Bonds have support near 106-14 then 106-02 A close under 106-30 augurs for lower levels . with a test of 105 if the current weakness continues....

Technically speaking their oversold and due for a rally, if that occurs it should be sold near 10816 id able.
However it is more likely they will reach Down to the 106 region shortly....With an eventual target of 105 and 104 after that....

SP 500

June SP500
On the Downside next week we see support near 754.45 and 747.60.
We would Buy near 737 if able risk 300 pts.
Resistance Next week begins near 767.50 and 776.30 where we would be a seller for a return to the trend lower. with a target of 737.... Risk 300 pts.

Happy Trading

Bill

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