Sun. March 14, 1999
12:00 PM
On the Frenzied Forex Front
June Japanese-Yen
Support is at 8499 and 8488 to 8484 aggressive traders can buy at 8499 and hold for higher prices. A close under 8499 indicates a slip towards the 8406 to 8391 region. Traders can buy at 8391 and hold for higher prices. Under that 8314 to 8300 and 8223 should contain any decline in the near future.
Resistance is at 8560 to 8588. Beyond that resistance is at 8613. A close over 8613 augurs for an eventual test of the 8668 to 8683 and the 8762 to 8777 region. Traders should go long if a close over 8589 occurs. Above that resistance should appear near 8856/ 8871 and the 8891 region. Traders should sell at 8871, risk a close over 8965 for two days in a row.
Traders should go long if a close over 8589 occurs.
June D-Mark
Support is at 5577 to 5553 and 5533 below that 5504 to 5492 should hold.
A close under 5492 is negative and augurs for a test of 5430 to 5418 where traders can buy at 5425 for a bounce, risk a close under 5418 for three days in a row.
Resistance is at 5604 then 5618 to 5621 A close over 5604 is friendly and augurs for an eventual test of 5640 to 5653 beyond that resistance is at 5671 and 5682. Beyond that resistance is at 5710 to 5716/ 5729. BW Traders should sell at 5716, risk a close over 5729 for two days in a row.. Beyond that a test of 5777 to 5792 is likely. BW Traders should sell at 5792, risk a close over 5805 for three days in a row.
June Swiss
Support is at aggressive traders can buy at 6874 and hold for higher prices.
Below that support is at 6836 to 6824 and 6809. A close under 6809 augurs for a slip towards the 6755 to 6741 region under that support is at 6673 to 6659.
Resistance is at 6906 and 6919 a close over 6919 is friendly and augurs for a test of 6974 and 6990 to 7003 and 7024 then 7074 to 7088 Where sellers should appear. Beyond that resistance is near 7130 and the 7143 to 7170 region. BW Traders can sell at 7143 and hold for lower prices.
June British Pound
Support is near 1.6286, traders can buy at 1.6286 and hold for higher prices. Under that support is at 1.6246 and 1.6150 to 1.6090 should hold.
Resistance is at 1.6334 a close over augurs for a test of 1.6420 and 1.6486. A close over 1.6420 is friendly and augurs for a test of 1.6550 beyond that resistance is at 1.6690 and 1.6736 Traders can sell at 1.6720 and hold for lower prices. Beyond that resistance is 1.6890 to 1.6960
June Canadian Dollar
Support should appear at 6561 and 6543. Below that a test of the 6509 to 6482 region is likely. Under that support is at 6430 to 6417. Traders can buy at 6510 for a turn higher risk a close under 6482 for three days in a row.
Resistance is at 6577 to 6593 and 6611. Beyond that Resistance is at 6659 to 6677 and 6741 to 6755 should cap a rally. Traders can sell at 6741 for a turn lower, risk a close over 6755 for three days in a row.
Stay tuned for Forex flashes
Precious Metals
April Gold
Support is at 292.80 Traders can buy at 292.80 and hold for higher prices.
Below that support is at 291.40 and 289.60 under that 288.30 to 287.40 should contain a decline. Traders can buy at 288.80 and hold.
Resistance is at 293.70 and 295.40. A close over 293.70 is friendly and augurs for a test the 297.20 to 299.0 region. Beyond that resistance is at 301. A close over 301 augurs for a test of the 309.5 to 311 region.
Trade accordingly
August Gold
Traders can buy august gold at 288.30 and hold.
May Copper
Support is at 6240. Below that buyers should surface near 6195 and 6165 to 6150 Under that support is at 6115 to 6100 and 6055.
Resistance is at 6250, a close over 6250 is friendly and augurs for a test of 6335. Beyond that resistance is at 6450 and 6545. Beyond that a test of 6650 is likely. Traders can sell at 6650, risk a close over 6675 for three days in a row.
Traders should go long if a close over 6250 occurs.
April Platinum
Support is at 365.1 and 363.1 then 359.6 and 355.3, traders should buy at 356.5 and hold for higher price. Below that buyers should appear near 350 to 349.
Resistance is at 366.5 and 368.2 to 369.4. A close over 369.5 augurs for a test of 375 to 380 Traders should if a close over 369.5 occurs.
May Silver
On the DownSide: Support is at 528.5 to 525.5 below that 522 should hold. Under that buyers should appear near 509.5 and 492.5 to 490. Traders should buy at 492.5 and hold for higher prices.
On the Upside. Resistance is at 533. A close over 533 is friendly and augurs for a test of 539.5 and 546.5. Beyond that resistance is at 555 to 557 and 570.
Patience..
The Exciting Energies
May Crude
Nearby Support is at 1438 and 1421 to 1415. traders can buy at 1421, risk close under 1415 for three days in a row. Below that support is at 1383 to 1377 and 1346 where it should hold.
Nearby Resistance is at 1453 to 1459 and 1463 to 1471 beyond that sellers should appear near 1488. A close over 1459 is friendly. and augurs for a test of 1520 to 1529/1535. Beyond that a test of 1569 to 1582 and 1609 to likely. Traders should go long if a close over 1459 occurs.
Traders should not rule out the possibility of $ 17.00 Crude this year if it holds.
May Unleaded Gas
Nearby Support is at 4567 under that buyers should appear near 4460 to 4430.
Traders can buy at 4447 and hold for higher prices. Below that support is at 4380 and 4315 to 4304. A close under 4304 is negative and augurs for a test of 4249 and 4185.
Resistance is at 4639 to 4659. A close over 4659 is friendly and augurs for a test of 4780 and 4845 to 4855 Beyond that resistance is at 4970 to 4995 and 5055.
Traders should go long if a close over 4650 occurs.
May Heating Oil
Support is at 3858 and 3725 to 3695 Traders can buy at 3745 and hold for higher prices. Below that support is at 3635 and 3563 to 3553. Below that Buyers should appear at 3490 and 3443 to 3425 which should contain any decline..
Resistance is at 3897 then 3909 to 3929 and the 3982 to 3992 region. A close over 3992 is friendly and augurs fore a test of 4110 and 4238 to 4248 and 4304 to 4315.
Traders should go long if a close over 3909 occurs.
The Grande Grains
May Soybeans
Support is at 471 3/4 to 467 1/2 Below that support is at 464 1/2 and 458. Below that buyers should appear near 453 to 450.
Resistance is at 478 1/2 and 481 1/2 Beyond that resistance is at 485 3/4 and the 492 to 495 region. Traders should go long if a close over 478 1/2 occurs.
July Soybeans
Support is at 478 1/2 to 477 3/4. Traders can buy at 478 3/4 and hold. Below that good buyers should appear near 472 1/2. Under that 459 should contain any decline.
Resistance is at 484 3/4 to 486 3/4. A close over 486 3/4 augurs for a test of 500 1/4 beyond that resistance is at 506.
Traders should go long if a close over 485 3/4 occurs.
July Soybean Meal
Support is at 131.10 to 130.30 and 129.90. Traders can buy at 131.90 and risk a close under 130.40 for three days in a row. Below that support is at 127.40 to 126.80 and 123.80 where it should hold.
Resistance is at 133.4 and 134.10 to 134.50, a close over 134.60 is friendly and augurs for a test of 137 to 138.30 beyond that 141. To 142.10 offers resistance.
Traders can go long if a close over 134.60 occurs.
July Soybean Oil
Support is at 1858 to 1850 under that buyers should appear near 1822 to 1806 below that 1783 to 1774 should hold.
Resistance is at 1883 and 1902 to 1909 then 1922. A close over 1911 is friendly and augurs for a test of 1946 to 1953 and beyond that resistance is at 1982 to 1995.
May Corn
Support is at 221 3/4, and 218 3/4 to 216 1/4. Traders can buy at 219 and hold for higher prices. Below that support is at 213 3/4 to 212.
Resistance is at 223 3/4, a close over augurs for a test of 226 to 228. Beyond that resistance is at 236.
July Wheat
Support is at 280 1/4 to 278 3/4 and 274. Traders can buy at 275 3/4, risk a close under 268 for three days in a row.
Resistance is at 285 to 286 1/4. A close over 286 is friendly and augurs for a test of 292 and eventually the 297 to 298 region if it holds.
Trade accordingly.
The Satisfying Softs
May Cotton
On the Upside resistance 6135, a close over is friendly and augurs for a test of 6208 and 6235. Beyond that a test of 6370, a close over 6350 is friendly and augurs for a test of the 6417 to 6430 region. Beyond that sellers should appear near 6570 to 6590 and 6675. Traders should go long if a close over 6135 occurs.
On the DownSide support is at 6113 to 6101 and 6035 to 6023 and 6008. Traders can buy at 6040 and hold for higher prices. Beneath that good buyers should appear near 5980 and 5965
Buy Dips.
May Sugar
Support is at 588 to 582. Below that 563 to 555 should hold.
Traders can buy at 586 and hold for higher prices.
Resistance is at 595 and 601 to 609. Beyond that resistance is at 619 and 630 to 635 then 656 to 661.
May Coffee
On the DownSide, support is at 103.80 to 103.20 traders can buy at 103.80 and hold for higher prices. Below that Buyers should appear near the 102.20/ 101.80 region. Under that support is at 101.25. Traders can buy at 101.25 and hold for higher prices.
On the Upside, Resistance is at 105.10 then 105.80 to 106.30 and 106.80. A close over 106.30 is friendly and augurs for a test of 107.70 and 108.75. Beyond that resistance is at 109.60 and 110.10/ 110.50. Above that a trade to 113.00/ 113.60 is likely.
Traders should go long if a close over 105.80 occurs.
Buy dips...
May Cocoa
Nearby Support is at 1203 to 1192 and 1179. Under that 1169 to 1164 should contain the decline for a bit.
Resistance is at 1232 to 1238. A close over 1232 is friendly and augurs for a test 1268 to 1279, Traders can sell at 1274 risk a close over 1304 for three days in a row. Traders should go long if a close over 1238 occurs.
The Lively Livestock
April Cattle
Support is at 6687 Below that buyers should appear at 6652 to 6647. A close under 6647 augurs for a test of the 6592 to 6577 region Traders can buy at 6577 and hold for higher prices. Below that 6512 to 6482 should contain a decline.
Resistance is at 6727 and 6742 to 6755 traders can sell at 6742 for a turn lower risk a close over 68012 for two days in a row. Beyond that resistance is at 6892 to 6917 and 6932..
April Hogs
Resistance is at 4230 and 4277. A close over 4230 is friendly and augurs for a test of 4347 to 4377. Traders can sell at 4377 for a turn lower, risk as close over 4447 for three days in a row. Beyond that resistance is at 4570 to 4582 which should cap a rally.
Support is at 4177 and 4142 then 4122. Under that Traders can buy at 4077 and hold for higher prices. Below that buyers should appear near 3992 and 3867.
Stay Tuned for flashes...
June Hogs
Support is at 5312 and 5292 under that Buyers should appear near 5227 to 5212. Traders can buy at 5212 and hold for higher prices. Below that buyers should appear near 5127.
Resistance is at 5367, a close over is friendly for a test of 5412 and 5495 to 5512. Beyond that resistance is at 5552 to 5577 and 5640.
Traders should go long if a close over 5367 occurs.
From the Frying Pan into the Fire--
May Bellies
Support is at 4995 to 4972 and 4957, a slip under augurs for a test of 4922 where it should hold for a bit. Traders can buy at 4922 and hold for higher prices. Under that support is at 4857 and 4787 to 4772 Traders can buy at 4787 for a turn higher and hold for higher prices. Below that 4717 to 4692 should contain the break.
Resistance is at 5072 to 5087. An extended trade or close over 5067 augurs for an eventual test of 5222, a close over 5222 is friendly and indicates a test of the 5362 to 5392 region beyond that 5552 offers resistance.
The Sensational Stock and Bond Markets
June Bonds
On The DownSide nearby support is at 121-04 to 121-00 A close under 121-04 is negative and augurs for a test of 120-14 below that support is at 119-27 Traders can buy at 120-14 for a turn higher, risk a close under at 119-27 for two days in a row
Under that support is at 119-13 and 118-29 and 117-28.
On the Upside: Resistance is at 121-14. A close over 121-14 augurs for an eventual test of 122-14 and 123-04 Traders can sell at 123-04 for a turn lower, risk a close over 123-11 for three days in a row. Beyond that resistance is at 123-15 and 124-07.
June SP 500
Support is at 1302.50
and 1294.40. However a close under 1302.50 augurs for an eventual test
of 1289 and 1287 to 1286.50 Below that buyers should appear near 1274 to
1268.
Resistance is at 1304 to 1307 and 1310 to 1313.30. Beyond that resistance is at 1318.50 to 1319.80 and 1322.00. Above that resistance is at 1334 to 1346.
Traders should go short if a close under 1302.40 occurs.
-Stay tuned for Flashes-
Dow Jones Industrial Avg.
Support is at 9869
and 9837 to 9825. A close under 9869 is negative and augurs for a test
of the 9737 to 9707 region Below that support is at 9641 to 9625.
A close under 9625 indicates a test of 9540 and eventually 9445 to 9429.
Resistance is near 9921/ 9924 to 9937 beyond that sellers should appear near 10,021 to 10,037. Beyond that resistance is at 10,050.. Beyond that a test of 10,104 to 10,136 is likely.
A ship in Harbor is Safe.. But that's not what ships are built for.
3-14-99 5:00 PM
Happy Trading
Bill
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