FuturesCom Investment Publications
Bi-weekly Investment Outlook (BW) Sunday April 25 1999
Dedicated to Excellence in Analysis of Futures Markets
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs

" There is only one side of the market and it is not the bull side or the
bear side,but the right side." --Jessie Livermore--

Sunday April 25, 1999
12:29 PM

June Japanese-Yen

Nearby Support is at 8407 to 8399 /8385 Traders should go long at 8407 and hold for higher prices. Below that 8314 to 8300 should hold. A close under 8300 is negative and augurs for a test of 8223 to 8194 where traders can buy at 8223 and hold for higher prices.

Resistance is at 8444 to 8456,a close over is friendly and augurs for a touch of the 8484 to 8499 region. Above that resistance is at 8560 to 8589 and 8629. A close over 8629 augurs for an eventual test of the 8668 to 8683 and the 8762 to 8777 region. 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 8444 occurs.

June D-Mark

Support is at 5430 to 5418 and 5410 where traders can buy at 5425 for a bounce, risk a close under 5418. A close under 5418 augurs for a test of 5356 to 5344, traders under that support is at 5282 to 5255. Traders can buy at 5282 for a bounce, risk a close under 5255 for three days in a row.

Resistance is at 5475 and 5510 to 5525. Traders can sell at 5555 and risk a close over 5577 for three days in a row. A close over 5577 is friendly and augurs for an

eventual test of 5640 to 5653 beyond that resistance is at 5671 and 5682.

June Swiss

Support is at 6621 and 6591 to 6577, aggressive traders can buy at 6591 for a turn higher, risk a close under 6577 for three days in a row. Below that support is at 6540 and the 6509 to 6482 region. Below that support is at 6430 to 6417.

Resistance is at 6659 to 6673 and the 6690 to 6707 region A close over 6707 is friendly and augurs for a test of 6741 to 6755, beyond that resistance is at 6809 to 6836. Traders can sell at 6836 and hold for lower prices. Risk a close over 6871 for three days in a row.

June British Pound

Nearby Support should appear near 1.6090 to 1.6062, traders can buy at 1.6090 and hold for higher prices. Under that support is at 1.5936. Below that 1.5760 to 1.5690 should contain weakness.

Resistance is at 1.6150. A close over 1.6150 is friendly and augurs for a an eventual test of 1.6224 and 1.6286. Traders should go long if a close over 1.6150 occurs
A close over 1.6286 augurs for a test of 1.6420 and 1.6486. Traders can sell at 1.6420 for a turn lower, risk a close over 1.6486 for three days in a row.

June Canadian Dollar

Support should appear at 6763 and 6755 to 6741. A close under 6741 is negative augurs for a test of 6673. Traders can buy at 6673 for a bounce, risk a close under 6622. Below that support is at 6591 and 6577. Below that support is at 6509 to 6482. Under that support is at 6430 to 6417.

Resistance should appear at 6675 and the 6719 to 6721 region. Beyond that

BW Traders can sell at 6741 for a turn lower, risk a close over 6755 for three days in a row. Above that sellers should appear near 6809 to 6836.

Stay tuned for Forex flashes

Aug. Gold

Support is at 286.50 and 285.3. Under that buyers should appear near 282.3 traders can buy at 282.3 for a turn higher risk, a close under 281 for three days in a row

Resistance is at 2884 and 291 A close over 291 is friendly and augurs for a test of the 292.80 to 293.70 region.

Trade accordingly

July Copper

Support is at 7035 to 7010 and 6935 to 6905. Traders can buy for a turn at 6935, hold for higher prices. Under that support should appear near 6835 to 6810. Traders can buy at 6835, risk a close under 6740 for three days in a row.

Resistance is at 7140 to 7170. A close over 7170 is friendly and augurs for a test of 7235 and the 7330 to 7345 region. Beyond that resistance is at 7415 to 7435 Above that a test of 6595 to 7605 is likely. Traders can sell at 7605 for a turn lower, risk a close over 7690 for three days in a row.

Traders should go long if a close over 7170 occurs.

July Platinum

Support is at 356 to 354.40 and 349 to 346 under that 342 should hold.

Resistance is at 357 to 358, a close over 358.90 is friendly and augurs for an eventual test of 366 to 368. Beyond that good sellers should appear near 372.

Traders should go long if a close over 358.90 occurs. .

July Silver

On the DownSide: Support is at 513.5 and 505. Traders can buy at 505 and hold for higher prices. Under that buyers should appear near 486. Traders should buy at 486 and hold for higher prices. Under that support is at 478.5 to 477.5 and 472.

On the Upside. Resistance is at 519.5 and 522. A close over 522 is friendly and augurs for a test of 534 to 536. Beyond that resistance is at 548 and 562.

Traders should go long if a close over 522 occurs.
 
 

June Crude

Nearby Support is at 1789 to 1774, aggressive traders can buy at 1774, risk a close under 1731 for three days in a row. Below that buyers should appear near 1755 and 1655 to 1642, traders can buy at 1655 and hold for higher prices. Below that support is at 1535 to 1529 and 1496 where it should hold. Traders should buy at 1496 and hold.

Nearby Resistance is at 1808 and 1822 to 1830. A close over 1822 is friendly. and augurs for test of 1858 to 1869. Beyond that resistance is at 1902 to 1909 and the 1946 to 1953 region. A close over 1953 augurs for a test of 1996 and the 2034 to 2042 region.

June Unleaded Gas

Nearby Support is at 5275 and 5220. Under that buyers should appear near 5140 Below that the 5065 to 5035 region should contain a decline in the near future.

Resistance is at 5345 to 5356 and 5418. A close over 5430 is friendly and augurs for an eventual test of 5645 to 5653 and beyond.

Traders should go long if a close over 5430 occurs.

June Heating Oil

Support is at 4318 to 4304 under that support is at 4249 to 4230 and 4175 to 4163. Under that Buyers should appear at 4120 to 4110 which should contain a decline.

A close under 4110 is negative and augurs for a test of the 3992 to 3982 region..

Resistance is at 4304 to 4315 and 4415 to 4450. A close over 4450 is friendly and augurs for a test of 4580 and eventually 4695 to 4717.
 
 

July Soybeans

Support is at 492 1/2 and 485 3/4. Below that support is at 479 and 472.

Resistance is at 496 beyond that sellers should appear near 501 and 507.

A close over 507 augurs for a test of 521 to 525.

Traders should go long if a close over 507 occurs.

July Soybean Meal

Support is at 132.1 and 129.60 to 127.4 below that 125.5 and the 123.8 to 123.2
region should hold. Traders can buy at 127.40 and hold for higher prices. .

Resistance is at 133.4 to 134.60 a close over 134.6 is friendly and augurs for a test of 137.7 to 138.3. Beyond that resistance is at 141.

Traders should go long if a close over 134.6 occurs.

July Soybean Oil

Support is at 2015 and 1996 to 1982, traders can buy at 1989 for a turn higher, risk a close under 1946 for three days in a row. Below that support is at then 1909 to 1902. traders can buy at 1909 and hold for higher prices. Below that 1869 to

1855 should hold

Resistance is at 2034 to 2042, a close over 2042 is friendly and augurs for a test of 2066 and the 2080 to 2088 region. A close over 2088 is friendly and augurs for a test 2126 to 2134 and eventually 2170 to 2185 Beyond that resistance is near 2262 to 2275 and 2315 to 2322.

Traders should go long if a close over 2042 occurs.

July Corn

Support is at 224 and 222 Traders can buy at 224 and hold for higher prices

Below that 219 to 217 should contain a decline in the near term..

Resistance is at 227 and 229, beyond that sellers should appear near 234

A close over 234 is friendly and augurs for a test of 238 and the 242 region.

July Wheat

Support is at 264 and 261 3/4, traders can buy at 265, risk a close under 261 for three days in a row. Under that buyers should appear near 259 and 252.

Resistance is at 266 1/2 then 270 1/2, a close over 270 1/2 is friendly and augurs for a test of 277. Beyond that sellers should appear near 283. Beyond that resistance is at 297 to 299.

Traders should go long if a close over 270 1/2 occurs.
 
 

The Satisfying Softs

July Cotton

On the Upside resistance is at 6025 to 6035, a close over 6035 is friendly and augurs for a test of 6125, beyond that resistance is at 6245 to 6270. A close over 6270 is friendly and augurs for a test of 6335 to 6350 and eventually the 6415 to 6430 region.

Beyond that resistance is at 6577 to 6591 and 6670. Traders can go short for a turn lower at 6655, risk a close over 6680 for three days in a row.

Traders should go long if a close over 6270 occurs.

On the DownSide support is at 5925, traders can buy at 5945 for a turn higher, risk a close under 5855 for three days in a row. Below that buyers should appear near 5880 to 5855 and the 5805 to 5792 region. Under that support is at 5650 to 5640 and 5577 to 5553.

July Sugar

Support is at 442 and the 428 to 421 region. Under that 408 to 405 should hold.

Traders can buy at 437, risk a close under 405 for three days in a row.

Resistance is at 445 to 448, a close over 448 is friendly and augurs for a test of 461 to 471. A close over 471 indicates an eventual test of 507 tom 515 and 534 to 538.

Beyond that resistance is at 559 to 562.

July Coffee

On the DownSide, support is at 9745 to 9700, traders can buy at 9745 and hold for higher prices. Below that support is at 95.40 and 9495 then 9445 to 9425 and 9345 to 9305 where it should hold over the near term.

On the Upside, Resistance is at 9875 to 9915, a close over 9915 is friendly and augurs for a test of 100.50 and the 101.20 to 102.40 region. A close over 101.90 augurs for an eventual test of 103.20 to 103.60 Beyond that resistance is at

105.10. to 105.80 and 106.80.

Traders should go long if a close over 99.15 occurs.

July Cocoa

Support is at 1005 to 1000. Below that 972 to 968 offers support. Under that traders should buy at 941 and hold.

Resistance is at 1032 to 1036 and 1044, a close over 1044 is friendly and augurs for a test of 1058 and 1068 to 1074.. Beyond that sellers will appear near 1096 to 1101..

June Cattle

Support is at 6257 to 6242 and 6227. Below that 6190 to 6162 should hold.

Traders can buy at 6162 and hold for higher prices. Risk a close under 6092 for three days in row.

Resistance is at 6277 and 6307. Beyond that resistance is at 6337 to 6347 and 6382 to 6407. A close over 6407 is friendly and augurs for a test of 6482 to 6507.

Traders should go long if a close over 6307 occurs.

June Hogs

Support is at 5712 to 5697 and 5677. Traders can buy at 5717 and hold for higher prices. Below that buyers should appear near 5612 and the 5512 to 5492 region.

Under that 5432 to 5417 offers support. Traders can buy at 5417 and hold for higher prices.

Resistance is at 5812 and 5855 to 5880. Above that 5912 offers resistance as does.

6020 to 6035 and the 6165 to 6180 region. Traders can sell at 6162 for a turn lower, Risk a close over 6272 for three days in a row.

Stay Tuned for Flashes the Pork Complex.

From the Frying Pan into the Fire--

July Bellies

Nearby Support is at 5712 Traders can buy at 5712 and hold for higher prices

Below that 5677 to 5642 and 5607 offer support. Under that support is at 5505 to 5492 and 5462. Traders can buy at 5462, risk a close under 5257 for three days in a row.

Resistance is at 5752 and 5792 to 5805. A close over 5805 is friendly and augurs for an eventual test of 5907 and 5947 to 5977. Traders can sell an early rally at 5977 for a quick turn lower,risk a close over 6037 for three days in a row. Beyond that resistance is at 6162 to 6190 and 6337 to 6352.

Stay Tuned for Flashes the Pork Complex.

June Bonds

On The DownSide nearby support is at 120-24 and 120-17. Below that support is at 120-03. A close under 120-03 is negative and augurs for a test of 119-16 and 119-03. Below that 118-16 to 118-03 offers support.

Traders should go short if a close under 120-16 occurs.

On the Upside: Resistance is at 121-06 and 121-17 beyond that sellers should occur at 122-03 to 122-16, traders can sell at 122-03 risk a close over 122-16 for three days in a row. Beyond that resistance is at 123-03 and 123-17.

June SP 500
Support is at 1363.20 and 1361.50, below that good buyers should appear near 1354.40. However a close under 1361.50 augurs for an eventual test of 1346. Below that support is at 1340 then 1337 and 1334 where it should hold. A close under 1334 is negative and indicates a test of 1322. Traders can buy at 1324 for a turn higher, A Below that 1310 to 1304 should contain a decline for a bit.

Traders should go short if a close under 1361.5 occurs.

Resistance is at 1369.60 to 1370.40 and 1373.50. Aggressive traders can sell at 1369.50 and risk a close over 1377. Beyond that sellers should appear near the 1380 to 1383 region. Beyond that 1387 offers resistance as does 1399 to 1406. A close over 1406 is friendly and augurs for a test of 1415 to 1421 which should cap the rally. Traders can sell at 1415 and hold for lower prices.

Stay tuned for Flashes

Dow Jones Industrial Avg.
Support is at 10,644 to 10,630 and 10,580. A close under 10,630 is negative and augurs for a test of 10,470. Below that 10,360 to 10,320 offers support. Failure there indicates a test of 10,136 to 10,104 and the 10,037 to 10,021 region.

Resistance is near 10,743 and 10,820. Beyond that sellers should appear near 10,905 to 10,960 and 11,010 beyond that 11,155 should cap a rally

A ship in Harbor is Safe.. But that's not what ships are built for.

Happy Trading

Bill

April 25 1999 3:05 PM

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