12:44 PM
On the Frenzied Forex Front
Sept. Japanese-Yen
Nearby Support is at 8391, a close under is negative and augurs for a test of 8352 and eventual the 8314 to 8300 level under that support is at 8284 and 8262.
BW Traders can buy at 8307, risk a close under 8261 for three days in a row.
Traders should go short if a close under 8406 occurs.
Resistance is at 8452 , a close over augurs for a test of the 8484 to 8499.
A close over 8499 is friendly and augurs for a test of 8560 to 8589 and eventually 8668 to 8683. Traders can sell at 8668, risk a close over 8683 for three days in a row.
Traders should go long if a close over 8499 occurs.
Sept. D-Mark
Resistance is at 5344 to 5356 beyond that resistance is at 5418 to 5430. Traders can sell at 5418, risk a close over 5462 for two days in a row.
Beyond that resistance is at 5462 and 5492 to 5504.
Support should appear near the 5314 and the 5282 to 5259 region.. BW Traders can buy at 5282 and Hold for higher prices.
Sept. Swiss
Resistance is at 6577 and 6591.
Traders can sell at 6577 for a turn lower, risk a close over 6591 for two days in a row.
Above that resistance is at 6624 and sellers should cap a rally near the 6656 to 6673 region. Beyond that resistance is at 6707 and 6741 to 6755.
Support is at 6542 and 6524. Below that support is at 6509 to 6482. BW Traders can buy at 6509, risk a close under 6482 for three days in a row. Under that support at 6430 to 6417 should contain a decline.
Sept. British Pound
Support should appear near 1.5934 and 1.5926. A close under 1.5926 augurs for a test of 1.5830 and eventually the 1.5760 to 1.5690 region. Traders can buy at 1.5760 for a good turn higher, risk a close under 1.5690 for two days in a row.
Resistance is at 1.5986 to 1.6002 and the 1.6090 to 1.6150 region. Traders can sell at 1.6120 for a turn lower, risk a close over 1.6150 for two days in a row. Beyond that resistance is at 1.6286 and 1.6420 to 1.6550.
Sept. Canadian Dollar
Support should appear at 6830 to 6822. A close under augurs for a test of support at 6809 and 6780. Traders can buy at 6782 for a turn higher , risk a close under 6755 for two days in a row.. Under that buyers should appear near 6741 and 6707.
Resistance is at 6849 and 6871 then 6877 to 6880. Traders can sell at 6871 for a turn lower risk a close over 6906 for three days in a row. Beyond that resistance is near 6906 and 6919. Above that traders can sell at 6938, risk a close over 6953 for two days in a row .
Stay tuned for Forex flashes.
Precious Metals
August Gold
Support is at 258.2 and 256.80 to 255.3 Traders can buy at 256.20 and hold for higher prices. Below that 252.70 and the 251.90 to 251.10 region.
Resistance is at 261.2 to 262 and 263.2. Beyond that resistance is at 264.1 and
the 266.30 to 267.20 region.
Sept. Copper
Nearby Support is at 6625. Hearty Traders can buy at 6625 and hold... Under that support should appear near the 6595 to 6575 region. Traders can buy at 6595, risk a close under 6505 for three days in a row. Below that 6350 to 6335 should contain a decline.
Nearby Resistance is at 6670 and 6715 then 6770.. Beyond that resistance is at 6905 to 6920 and 6690 to 7005. Above that seller's should appear near 7075 to 7080
Beyond that resistance is at 7325 to 7340.
Trade accordingly
July Platinum
Support is at 350.3 to 349.30 and 344.5 to 342.5. traders can buy at
344.5 and hold for higher prices..
Resistance is at 354.5 to 356.3 Beyond that resistance is at 359.5 and 361.20 to 362.30
Sept. Silver
On the DownSide: support is at 492.5 to 491.5 Below that support should appear near 488 and 485.5 to 484. Traders should buy at 485.5 and risk a close under 478.5 three days in a row. Under that support is at 477 and the 471.5 to 469 region.
On the Upside. Nearby resistance is at 505.5 to 506.5. A close over 506.5 is friendly and augurs for a test of 512.5 to 513.5 region . Beyond that resistance is at 517 and 523 to 528.5.
Traders should go long if a close over 506.5 occurs.
Trade Accordingly
The Exciting Energies
Aug. Crude
Nearby Support is at 1815 and 1808. Below that buyers should appear near 1794 and the 1780 to 17774 region. Traders can buy at 1794, risk a close under 1774 for two days in a row. Below that support is at 1756 and 1738 to 1732 which should contain a decline for the time being.
Resistance is at 1822 and 1842. However a close over 1822 is friendly and augurs for a test of 1858 to 1862 .beyond that the 1902 to 1909 region should bring sellers out.
Traders can sell at 1902 for a turn lower, risk a close over 1928 for two days in a row.
Beyond that 1946 to 1953 should cap a rally
Aug. Unleaded Gas
Support is at 5139 to 5127, traders can buy at 5127, risk a close under 5067 for two days in a row. Below that support is at 4995 to 4970. Which should contain a break
Heart Traders can buy at 4995, risk 150 pts.
Resistance should appear at 5289 and 5318 then 5344 to 5355. A close over 5356 is friendly and augurs for an eventual test of the 5492 to 5504 and 5555 to 5577 regions Traders should go long if a close over 5356 occurs
Aug. Heating Oil
Support is at 4504 and 4495 then 4446 to 4432. Aggressive traders can buy an early dip to 4446 ,risk a close under 4370 for two days in a row Under that 4390 to 4370 should hold for a bit.. Below that 4335 and 4315 to 4304 should contain a decline for now. Traders can buy at 4315 and risk a close under 4304.
Resistance is at 4639 to 4650 ,a close over 4650 is friendly and augurs for a likely test of the 4695 to 4717 and 4775 to 4785 regions. Beyond that a trade towards the
4845 to 4856 should not be ruled out if it holds.
Trade Accordingly.
The Grand Grains
July Beans
Support is at 474 1/4 and the 471 3/4 to 469 1/2 region. Below that support is at 467 . Below that support is at 461 and 447.
Resistance is at 477 to 480 3/4 . a close over 478 3/4 is friendly and augurs for a test of 485 to 489. Above that sellers should appear near 502.
Aug. Beans
Support is at 470 3/4 and the 465 to 463 3/4 region. Below that support is at 451 1/2 to 450 3/4.
Resistance is at 474 3/4 and the 477 to 478 3/4 region . a close over 478 3/4 is friendly and augurs for likely test of 485 beyond that resistance is at 491 1/2 to 492 3/4.
Beyond that our target is the 497 to 504 region buy the end of 3rd week of July if it holds.
Traders should go long if a close over 478 3/4 occurs.
November Beans
Support is at 480 then 478 3/4 to 477, under that support should appear near 471 3./4 to 469 1/2 and 451 1/2 to 450 1/4 which should contain a hard decline..
Nearby Resistance is at 481 1/2 and the 484 1/2 to 485 3/5 region. A close over
485 3/4 augurs for a test of 497 to 499 1/2 then 505.
July SoyBean Meal
Support is at 141.80 , aggressive traders can buy at 141.9 and hold for higher prices, risk a close under 139 for two days in a row. Under that support is at 137.10 and 134.60 to 133.
Resistance is at 145 to 146.10 a close over 146.10 is friendly and indicates a test of 148.4 to 149.6 and most likely the t52.9 to 153.5 region.
July SoyBean Oil
Support is at 1671 then 1655 to 1648 and 1642. Traders can buy at 1673 or better and risk a close under 1628 for three days in a row . Under that support is at 1628 the 1615 to 1609 region. Which should contain a further decline for the time being. Under that 1576 to 1569 provides some support as does 1535 top 1529.
Resistance is at 1689 to 1696. A close over 1696 is friendly and augurs for a test of
the 1731 to 1738 and 1748 to 1756 regions . A close over 1756 is friendly and augurs for a test of 1774 to 1780 and 1808 to 1822. Beyond that a test of 1858 to 1869 is likely to occur if it holds.
Traders should go long if a close over 1696 occurs.
Dec. Corn
Support is at 229 3/4 and 227 then 224 3/4 below that the 222 3/4 to 221 2/3 region should hold.
Resistance is at 235 1/2 to 237 . a close over 235 1/2 is friendly and augurs for a test of 241 to 241 3/4 and eventually 245 1/2.
Beyond that resistance is at 251 which if it rallies could be tested by Mid July..
Traders should add / go long if a close over 235 1/2 occurs.
Sept. Wheat
Support is at 264 to 263 1/2. Under that support is at 260 3/4 and 258.
Below that support is at 252
Resistance is at 267 and 269 1/2. A close over 269 1/2 is friendly and augurs for a test of 275 1/4 and 279 1/4 to 281 where resistance should appear.
Trade accordingly
The Satisfying Softs
Dec. Cotton
On the DownSide support is at 5577 to 5553.
Below that support is at 5504 to 5492. Under that 5355 and the 5220 to 5220 should
Hold.
On the Upside resistance is at 5640 to 5653 and 5716 to 5729
Beyond that resistance is at 5855 to 5880.
Oct. Sugar
Nearby Support is at 613 to 609 and 601, aggressive traders can buy at 613 , risk a close under 601 for two days in a row. Below that support is at 586 to 582 and 571
Traders can buy at 582 and risk a close under 563.
Resistance should appear at 630 to 634 and 656 to 661. A close over 661 is friendly and augurs for a test of 682 to 686 and eventually 704 to 712 which should cap a rally. Traders can go short at 704 for a turn lower risk a close over 712 for three days in a row.
Trade Accordingly
Sept. Coffee
On the DownSide, early support is at 106.80 then 106.50 to 106.30 Hearty
Traders can buy at 107.10 and hold for higher prices.. Below that support is at 105.80. Under that buyers should appear near 104.70 then 104.30 and 103.60 and 103.20
Below that support is at 101.85 and 100.50 to 100.00
On the Upside, Resistance is at 108.20 to 108.40 , a close over 108.20 is friendly and
augurs for a test of the 109.60 to 110.10 110.60. Above that resistance is at 111.55, a close over 111.55 is friendly and augurs for a test of the 113.00 to 113.60 region.
Beyond that sellers should appear near 116.40 to 116.90.
Well Heeled Traders can go long if a close over 108.20 occurs...
Sept. Cocoa
Support should appear near 1116 and the 1101 to 1096 region. Traders can buy at 1101 and hold for higher prices. Below that support is at 1068 to 1058 and 1036 to 1032.
Resistance remains near the 1130 to 1136 region and at 1150 then 1164 to 1169
A close over 1169 is friendly and augurs for a test of 1192 to 1203 and eventually 1220 then 1232 to 1238. Beyond that resistance is at 1268 to 1274 Traders can sell at 1268, risk a close over 1304 for three days in a row.
The Lively Livestock
August Cattle
Friday's USDA Cattle on Feed Report was negative with Aug. called 25 lower Traders should try to re-establish last week's shorts. Aggressive Traders should sell at 6382 and hold for lower prices.
Resistance is at 6392 and 6417 to 6427 then 6442 beyond that sellers should
appear near the 6482 and 6507 to 6517. Traders can sell at 6482 and risk a close over 6517 for three days in a row.
Support is at 6367 then 6350 to 6337 and 6320. Failure to maintain a posture over 6337 is negative and augurs for a test of 6297 and the 6270 to 6257 region.
Under that support is at 6190 to 6165 region where traders can buy at 6177 and hold for higher prices.
Trade accordingly and Stay Tuned
The USDA Cold Storage report was Neutral for Bellies but revealed a large supply of Hams which many analysts feel could weigh on the hog prices...
However FuturesCom prefers to remain with its current opinions.
July Hogs
Support is at 5017 to 4997 and 4897 under that support is at 4857 to 4847.
Below that 4717 to 4692 should hold...
Resistance is at 5097. A close over 5097 is friendly and augurs for a test of 5197 to 5222 Beyond that resistance is at 5282 to 5307.
Aug. Hogs
Support is at 5357 to 5342 and 5317 to 5297. Under that support is at 5282 to 5255 and 5212 to 5197. Aggressive traders can buy at 5202 , risk a close under 5162 for two days in a row. Under that support is at 5127 and 5067 to 5037 .
Resistance is at 5392 to 5417. A close over 5417 is friendly and augurs for a test of the 5492 to 5522 region. Beyond that sellers should appear near 5552 to 5577. A close over 5577 is friendly and indicates a test of 5642 to 5657 and 5717 to 5727.
Traders should go long if a close over 5417 occurs.
Oct. Hogs
Support is at 5282 and 5257. Below that support is at 5212 to 5192 then 5162 and the 5137 to 5127 region. Traders can buy at 5142 for a turn higher, risk a close under 5052 for two days in a row.
Resistance is at 5297 , to 5312 a close over 5312 is friendly and augurs for a test of the 5342 to 5357 region. Beyond that resistance is at 5417 to 5432 and 5457 and 5492 to 5507.
According to our Special Report Traders should Go long if a close over 5297 occurs
In addition Aggressive traders can also go long if a close over 5317 occurs..
Stay Tuned for Updates in the Pork Complex.
From the Frying Pan into the Fire--
July Bellies
Support is at 4247 to 4237 and 4217 to 4200. Traders can buy at 4242 and risk a close under 4162. Under that support is at 4182 to 4162 and the 4122 to 4112
region . Below that 4057 to 4042 should hold. Traders Who have Ice water Running through their veins can buy at 4067 and hold for higher prices...Below that support is at 3927 to 3907.
Resistance is at 4342 and 4367. A close over 4367 is friendly and augurs for a test of 4427 to 4447 and eventually the 4502 to 4517 region. If perchance a close over 4517 occurs a test of 4637 to 4657 is likely. Beyond that resistance is at 4692 to 4717 and 4817 then 4855 to 4880.
Traders should go long if a close over 4367 occurs.
Stay Tuned for Flashes the Pork Complex.
The Sensational Stock and Bond Markets
Sept. Bonds
On The DownSide support is at 115-21 to 115-17, a close under 115-17 tests the resolve of all the traders who played the News and augurs for a test of 115-02 to
114-31. With a likely touch of 114-21 to 114-17. Traders can buy at 114-21 and hold for higher prices, risk a close under 113-12 for three days in a row. Below that 113-03 to 112-27 offers support.
On the Upside Nearby Resistance is at 115-31 and 116-04 beyond that sellers should appear near the 116-27 to 117-02 region. Hearty Traders can sell at 116-29, risk a close over 117-08 for two days in a row. Beyond that resistance is at 117-21 and 118-08 to 118-12 traders can sell at 118-10, risk a close over 119-06 for two days in a row.
Trade Accordingly.
Sept. SP 500
On the DownSide Support is at 1356 and 1355.20 Hearty Traders , can buy an early dip at 1355.90 for a turn higher, put your own risk on it and stay tuned. Below that
support is at 1348.80 and the 1346 region. Under that Buyers should appear at 1340 Where it should hold on a decline basis the close. Traders can buy at 1340 for a bounce, again put your own risk on it and stay tuned for an exit... Below that support is at 1335.50 and 1334. Below that support is at 1328.10 and 1325.20 to 1322.
Traders can buy at 1322 and hold. Under that the 1310 to 1304 and 1292 regions should provide support.
Early Resistance remains at 1357.20 and 1361.50 . A close over 1361.50 is friendly and augurs for a an eventual test of 1372.10 and most likely the 1377 to 1383 region...
Beyond that sellers should appear near 1385.30 and the 1399 region. Beyond that 1415 to 1421 should cap a rally for a bit. Traders can sell at 1421 , risk a close over 1424 for three days in a row.
Stay tuned for Flashes ...
Dow Jones Industrial Avg.
Support is at 10,820 and 10,797
to 10775, under that support should appear near 10,714 and 10,680 where
it should hold on a good decline. Below that support is at 10,652 to 10,630
and 10,580..
Resistance is at 10,891, beyond that a test of 10,909 is likely. A close over 10,910 augurs for a test of 10,960 , above that resistance is at 11,010 to 11,020 and 11,053
Above that resistance is at 11,155 and 1280 then the 11,300 to 11,360 region which should Cap a Rally.
A ship in Harbor is Safe.. But that's not what ships are built for.
Happy Trading
Bill
June 20 1999
2:15 PM
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