Sunday June 06, 1999
10:05 AM
On the Frenzied Forex Front
Sept. Japanese-Yen
Nearby Support is near the 8223 to 8194 region. A close under 8223 augurs for a test of the 8134 to 8119 region, Traders should go long at 8135 and hold. Below that 8044 to 8029 should contain the decline.
Resistance is at 8300 to 8314.
A close over 8314 is friendly and augurs for a test of 8371 and 8391 to 8406.
Beyond that resistance is at 8484 to 8499 A close over 8499 is friendly and indicates a test of 8560 to 8589. Traders can sell at 8560, risk a close over 8589 fore three days in a row. Traders should go long if a close over 8314 occurs.
Sept. D-Mark
Resistance is at 5344 to 5356 Aggressive traders can sell at 5356 and hold for lower prices.. Beyond that resistance is at 5392 to 5400 and the 5418 to 5430 region.
Traders an sell at 5430 and risk a close over 5461 for three days in a row. Beyond that resistance should appear near the 5491 to 5504 region.
Support is at is at 5317 to 5312. Below that buyers should appear near the 5282 to 5259 region where it should hold for a bit. Traders can buy at 5282 and Hold for higher prices. Below that support is at 5249 and the 5211 to 5200 region.
Sept. Swiss
Resistance is at 6606 and 6623, beyond that sellers should appear near the 6656 to 6673 region. Traders can sell at 6656 for a quick turn lower and hold for lower prices. Beyond that resistance is at 6707 then 6723 and the 6741 to 6755 region which should contain a rally for a bit. Traders can sell at 6741 and Hold...
Support is at 6591 to 6577. Traders can buy at 6584, risk a close under 6577 for three days in a row...Under that support is at 6556 and 6523 then 6509 to 6482. Traders can buy sat 6509, risk a close under 6482 for three days in a row.
Sept. British Pound
Support should appear near 1.6090, traders can buy at 1.6090 and hold for higher prices. Below that support is at 1.6048 and 1.5960.
Resistance is at 1.6150 and 1.6190. a close over 1.6150 augurs for a test of 1.6286. Beyond that resistance is at 1.6344 and 1.6420.
Traders should go long if a close over 1.6150 occurs.
Sept. Canadian Dollar
Support should appear at 6787 and 6759, traders can buy at 6787, risk a close under 6781 for three days in a row. under that buyers should appear near 6755 to 6741. .
Under that support is at 6707 and the 6673 region.
Resistance is at 6822 and 6836. Beyond that resistance is at 6859 and 6871. A close over 6771 is friendly and augurs for a test of the 6906 to 6919 region. Beyond that test of 6990 to 7003 is likely.
Traders should go long if a close over 6836 occurs.
Stay tuned for Forex flashes.
Precious Metals
August Gold
Support is at 266.7 and 265.8. Traders can buy at 266.7, risk a close under 266.Below that support is at 263.8 and 257.
Resistance is at 268.3 and 270.6 and the 271.6 to 272.4 region. A close over 272.4 is friendly and augurs for a test of 276.
Trade accordingly
July Copper
Support is at 6120 to 6090. Under that support should appear near the 6035 to 6020 region. Traders can buy at 6035, risk a close under 6020 for two days in a row.
Below that support is at 5880 to 5835.
Resistance is at 6235 to 6245. A close over 6245 augurs for a test of 6360 then the 6415 to 6435 region. Beyond that resistance is at 6520 and the 6635 region.
Beyond that resistance is at 6740 to 6755. Traders can sell at 6755 for a turn lower, risk a close over 6810 for three days in a row.
Traders should go long if a close over 6245 occurs.
July Platinum
Support is at 365.5 and 363.8 Traders can buy at 363.8 and hold for higher prices. Below that support is at 361.5 and 358 to 357.
Resistance is at 367.8, Beyond that resistance is at 371.5, a close over 371.5 is friendly and augurs for a test of the 375.8 to 377 region. Beyond that resistance is at 380.6 and 385.8 to 386.7 Traders can sell at 385.8 and risk a close over 387 for two days in a row.
Traders should go long if a close over 371.5 occurs.
July Silver
On the DownSide: support is at 492.6 to 491.5, below that good buyers should appear near 488. traders should buy at 488.5 and risk a close under 485 three days in a row. Under that support at 478.5 to 477. Below that 471.8 to 469.5 should hold.
On the Upside. Resistance is at 499.5 to 501 then 502.5.. A close over 499.5 is friendly and augurs for a test of 508.. Beyond that resistance is at 512 to 514 and 527 to 534 where good sellers should appear.
Traders should go long if a close over 499.5 occurs..
The Exciting Energies
July Crude
Support is at 1731 and 1719. Under buyers should appear near the 1696 to 1689 region where good support remains. Below that support is at 1652 to 1645. then 1615, Traders can buy at 1615 and hold.
Nearby Resistance is at 1738 and 1744 to 1749. A close over 1755 augurs for a test of the 1774 to 1780 region. Beyond that sellers should appear near 1808 to 1822.Above that resistance is at 1858 to 1868. Traders should go long if a close over 1755 occurs.
July Unleaded Gas
Support is at 4995 to 4773 and the 4926 to 4915 region.. Below that buyers should appear near 4895 and 4825.
Resistance should appear near 5022 and 5036 to 5057. A close over 5057 is friendly and augurs for a test of 5127 to 5139. Beyond that resistance is at 5200 to 5211 and eventually 5259 to 5282. A close over 5282 is friendly and would indicate a test of 5418 to 5430.
Traders should go long if a close over 5282 occurs.
July Heating Oil
Support is at 4120 to 4110 and 4065 to 4046. Traders can buy at 4065 and hold for higher prices. Below that Good buyers should appear near 3970 and 3939 to 3909.
Resistance is at 4163 to 4183, a close over 4183 augurs for a test of 4230 and 4370 to 4381. Beyond that good sellers should appear at 4550. Where traders can sell at 4570 for a turn lower, risk a close over 4582 for three days in a row.
Traders should go long if a close over 4183 occurs..
The Grand Grains
July Beans
Support is at 4611/4 and the 460 1/4 to 458 3/4 region. Traders can buy at 459, risk a close under 357 1/4 for two days in a row. Below that support is at 456 and 450 below that 444 3/4 to 442 3/4 should hold.
Resistance is at 466 1/2 to 467. Beyond that resistance is at 472 1/2 and 476. A close over 472 is friendly and augurs for a test of 486 to 488 Traders should go long if a close over 472 occurs..
November Beans
Support is at 470 3/4 and 467 3/4 under that support is at 457.
Resistance is at 477 3/4 and 482 3/4 Beyond that sellers should appear near 485. A close over 485 3/4 is friendly and augurs for a test of 496 to 499.
Traders can go long if a close over 485 3/4 occurs.
July SoyBean Meal
Support is at 134.60 to 133.4, traders can buy at 133.4 risk a close under 132.20 for two days in a row. Below that support is at 1310 to 130.40 and 129.70.
Resistance is at 135.6 to 136.40 and 137.70 to 138.30. A close over
138.30 is friendly and augurs for a test of 141.40 and eventually the
145.3 to 145.9 region..If it holds.
July SoyBean Oil
Support is at 1714 then 1696 to 1689 and 1656 to 1643.
Resistance is at 1731 to 1738 and 1743. Beyond that sellers should appear near 1774 to 1780, a close over 1780 is friendly and augurs for a test of 1808 to 1822
Traders should go long g if a close over 1731 occurs.
Dec. Corn
Support is at 233 3/4 and 232 1/4 to 231 1/2. Traders can buy at 232 1/4 and hold for higher prices.. Below that support is at 229 3/4 and 228 1/2.. Below that 222 should contain a decline.
Resistance is at 235 3/4 and 237 3/4 to 238 1/2 where good sellers should appear..A close over 239 is friendly and augurs for a test of 244 to 246. Beyond that resistance is at 250 1/2.
Sept. Wheat
Support is at 265 3/4 and 262 1/4. Traders can buy at 262 1/4 and hold for higher prices. Below that support is at 260 1/4 and the 256 to 255 1/2 and the 253 to 249 region.
Resistance is at 271 3/4 to 272 1/2 and 274 1/4. A close over 272 1/2 is friendly and augurs for a test of 275 3/4 to 277 1/2. Traders should go long if a close over 272 1/2 occurs. Beyond that resistance is at 283 to 286 and 290 1/2
The Satisfying Softs
Dec. Cotton
On the Upside resistance is at 5792 to 5805 and 5855 to 5880. A close over 5865 is friendly and augurs for a test of 5907 then 5945 to 5975.
On the DownSide support is at 5729 to 5712, below that support is at 5655 to 5640. Under that 5577 to 5553 offers support as does the 5504 to 5492 region.
Oct. Sugar
Support is at 563 to 559 and the 538 to 534 region. Traders can buy at 538 and risk a close under 531 for three days in a row. Under that buyers should appear near 515 to 507.
Resistance should appear at 568 and 577 beyond that sellers should appear near the 582 to 589. A close over 586 is friendly and augurs for a test of 601 to 609. Beyond that good sellers should appear near 656 to 661.
Traders should go long if a close over 572 occurs.
Sept. Coffee
On the DownSide, early support is at 121.20 then 120.30 to 119.20 and 118.25 to 117.95. Below that good buyers should appear near 117.20 then 116.90 to 116.40. Traders can buy at 116.90 and hold for higher prices. Under that support is at 115.00. Below that 113.60 to 113.00 offers support, traders can buy at 113.60 and hold.
On the Upside, Resistance is at 122.90 and the 123.20 to 123.80 region. A close over 123.20 augurs for a test of 124.40 and eventually the 125.50. Beyond that a test of 126.80 to 127.40 is likely. Beyond that resistance is at 130.40 to 131.90
Sept. Cocoa
Support is at 1068 to 1058 below that 1036 to 1032 offers support. Traders can buy at 1034 and hold for higher prices. Below that support is at 1017 and 1005 to 1000. Below that 972 to 968 offers support.
Resistance is at 1096 to 1101 and 1116. Beyond that resistance is at 1130 to 1136 and 1162 to 1169. Traders can sell at 1164 for a turn lower, risk a close over 1181 for three days in a row.. Beyond that good sellers should appear near 1192 to 1203.
The Lively Livestock
August Cattle
Support is at 6372 to 6367, aggressive traders can buy at 6367 and hold for higher prices. Below that support is near the 6352 to 6337 region. Under that good buyers should appear at 6317 then 6297 to 6277. Traders can buy at 6317, risk a close under 6257 for three days in a row. Below that 6182 to 6162 should hold. .
Resistance is at 6417 to 6427 and 6457. Traders can sell at 6457, risk a close over 6522 for three days in a row. Beyond that resistance is at 6577 to 6592.
June Hogs
Support is at 5157 and 5107 to 5062 Traders can buy at 5157 and hold.
Resistance should appear near 5207 and 5262. A close over 5262 is friendly and augurs for a test of 5307 beyond that resistance should appear near the 5342 to 5357 region.
A close over 5212 is friendly and augurs for an eventual test of 5460.
Traders should go long if a close over 5212 occurs.
July Hogs Support is at 5562 and the 5502 to 5492 region. Traders can go long at 5502, risk a close under 5392 for three days in a row.
Resistance is at 5642 and 5657 to 5667, a close over 5657 is friendly and augurs for a test of the 5692 to 5702 and eventually 5762. Beyond that 5855 to 5880 offers resistance
Stay Tuned for Flashes in the Pork Complex.
From the Frying Pan into the Fire--
July Bellies
Support is at 5312 and 5287 then 5252. A close under 5252 augurs for a test of 5182 to 5167.. Below that support is at 5137 to 5127 and 5112.. Traders can buy at 5127 for a bounce, risk a close under 5037 for three days in a row.
Nearby Resistance is at 5357 beyond that sellers should appear near 5402, a close over 5402 is friendly and augurs for a test of 5472. Beyond that sellers should appear near 5552 to 5577. Traders can sell at 5552 and hold for lower prices.. Beyond that sellers should appear near 5657 and 5692 to 5717 then 5732.
Traders can sell at 5712 and Hold.
Stay Tuned for Flashes the Pork Complex.
The Sensational Stock and Bond Markets
Sept. Bonds
On The DownSide support is at 115-31, aggressive traders can buy at 115-31 and hold for higher prices, below that support should appear near 115-25 then 115-03. Traders can buy at 115-03 for a turn higher, Risk a close under 114-25 for three days in a row.
On the Upside: Resistance is at 116-19 and 116-25. Beyond that sellers should appear near 117-04. A close over 11625 is friendly and augurs for a test of 117-04 and 117-25. Beyond that resistance is at 118-20 to 118-25 and 119-30. Above that good sellers should appear near 120-18. Traders can sell at 120-18, risk a close over 120-31 for three days in a row.
June SP 500
On the DownSide, Early support is at 1326.30 aggressive Traders can buy at 1326.30 and hold for higher prices Below that support should appear near the 1322 region. Which should hold basis the close.. Under that support is at 1313.30 to 1312.20 and the 1310 to 1306/ 1304 region. Stay Tuned..
Resistance is at 1334, a close over 1334 is friendly and augurs for a test of 1340 then 1346 to 1347.10. Beyond that resistance is at 1356.40 and 1361.50. ..A close over 1361.50 indicates a test of resistance near the 1377 to 1383 region. Beyond that 1415 to 1421 should contain a rally..Traders can sell at 1418 and hold for lower prices...
Traders should go long if a close over 1334 occurs...
Stay tuned for Flashes ...
Dow Jones Industrial Avg.
Support is at 10,797.
Under that support is at 10,778 to 10,756 and 10,680 then 10,649 to 10,630
where it should hold on a hard decline.. A close under 10,630 is negative
and augurs for a test of 10,580 to 10,530 and 10,470 then 10,360 to 10,320.
Resistance is at 10,815 and 10,867 beyond that resistance is at 10,909, a close over 10,909 is friendly and augurs for a test of 10,960 and the 10,993 to 11,010 region.
A close over 11,010 is friendly and augurs for an eventual test of 11,155. .
A ship in Harbor is Safe.. But that's not what ships are built for.
Happy Trading
Bill
June 6 1999
7:24 PM
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