Futures Trading Newsletter ‘Bi-Weekly Investment Outlook’ #474.
FuturesCom Futures Trading Newsletter Sunday May 17, 2015. SP500 and Equity Indices • Bonds • Currency Trading • Forex • Precious Metals • Energy • Grains • Livestock • Coffee • Sugar • Cocoa • Cotton. for a Free Two Week trial to our Futures Trading Newsletter see https://futurescom.com/free-trial-2
Saturday May 16, 2015
10:00 PM, South Florida Beach Time
Interest rates in the U.S. are still zero, the ECB has negative interest rates and neither situation appears likely to change anytime soon. Maybe not for years. Therefore traders should expect wide movements in all markets. Stay tuned for flashes, updates and additional recommendations.
The U.S. Stock Indices are at or near all time highs. In Japan traders should continue to treat Japanese Yen as a trading affair. Spot Dollar-Yen (inverse of the futures) continues to trade on both sides of unchanged on the year by a little bit. On the downside, the USD/JPY support is at the 11690 to 11640 region. The nearby resistance is 12030 and the 12320 to 12380 region. In Europe, the Dax is sitting near the January month end closing price. The Euro has moved up a little bit and is at little higher on the year with 10 years of prices on top of the market. The Euro has resistance 11640 to 11690. Support lies near 11010. In the U.K cable moved higher after the elections Look for more volatility for the British Pound, the support is now at 1.5350 to 1.5290. Resistance is near 16090 to 16150. Bank of England monetary policy makers have yet to stop QE but said rates are likely to move up rather than down. Looking north of the border the U.S. Dollar-Canadian Dollar (USD/CAD) trading range has not changed. USD/CAD has some support at 11690 Resistance remains near 12320 to 12380.
Canadian Dollar futures (inverse of USD/CAD) support is at 8044 to 8029 and 7777 to 7763. Resistance is at 8560 to 8589. Short term Canadian dollar futures are a trading affair. Nothing has changed. The Australian dollar has moved to a three month high and is also a trading affair. The Kiwi firmed a bit and then fell back a little and is a trading affair. Analysis for overseas equity and foreign exchange markets are available upon request. For cross-country or country-by-country analysis for trading and hedging, please call or email a request.
Silver has moved up a bit and is a little higher on the year Copper has stalled against medium term resistance. Natural Gas prices firmed up a little and trading rangebound. WTI Crude Oil, Brent Crude and the products all have wide trading ranges. Crude Oil is still a trading affair. Stay tuned for energy flashes.
Traders should expect more volatility in grain markets as the U.S. growing season progresses. Traders should also expect much more price movement for Live Cattle and Lean Hogs on a daily basis. Coffee long term downside targets remain near 116.90 to 116.40. Sugar is a trading affair. Cocoa has moved up sharply on anticipated production shortfalls from possible effects of El-Nino later this year. Traders should more expect wide ranges and a trading affair in Cocoa. With a topside of 3425 and a downside of 2829 to 2820.
Onto the Nitty Gritty
THE SENSATIONAL STOCK AND BOND MARKET
DOW JONES INDUSTRIAL AVERAGE Support is at 18,220.00 then 18,8080.00 and 17,800.00 to 17,740.00
Resistance is at 18,580.00 and 18,650.00.
DOW JONES TRANSPORTS
Support should appear near 8589.00 to 8560.00 and 8499.00 to 8484.00
Resistance is at 8762.00 to 8777 and 8856.00 to 8871.00
JUNE E-MINI SP500
Resistance should appear near 2134.00 and the 2170.00 to 2185.00 region. Traders can sell at 2169.75 and initially risk a close over 2186.00 for three days in row.
Support should appear near 2089.00 then 2080.00 the 2042.00 to 2034.00 region. Traders can buy at 2042.25 and risk a close under 2033.75 for three days in a row.
NASDAQ COMPOSITE
Resistance should appear at 5127.0 to 5139.00 and 5259.00 to 5282.00 Support should appear near 4973.00 then 4926.00 and 4856.00 to 4845.00
JUNE E-MINI NASDAQ 100
Support should appear near 4446.00 and 4370.00 Resistance is at 4582.00 and 4639.00
JUNE E-MINI RUSSELL 2000
Resistance should appear near 1268.00 to 1274.00 Support should appear near 1203.00 to 1192.00
JUNE 30 YR BONDS
Resistance should appear near 156.07 and 157-22. Beyond that sellers should appear near
160-21.
Support should appear near 154-22 and 153-21 , below that a test of 151-07 is likely.
JUNE 10 YR NOTE
Resistance should appear near 128-21 and 129-07 . Beyond that sellers should appear near 129-21
Support should appear near 127-21 and 127-07, below that buyers should appear near 126.22 and contain a decline.
THE FRENZIED FOREX FRONT
JUNE DOLLAR INDEX
Resistance should appear near 9347 and 9429 to 9445, a close over augurs for a test of the 9706 to 9737 region. Support should appear near 9156 to 9140 and 9060 to 9044.
JUNE JAPANESE YEN
Resistance should appear near 8484 to 8499 region. Beyond that sellers should appear near 8560 to 8589.
Support should appear near 8314 to 8300 and the 8223 to 8194 region.
JUNE EURO CURRENCY
Support should appear 11360 then 11320 and 11010 to 10960. Below that a test of 10820 is likely. Traders can buy at 10827 for bounce and hold for higher prices. Risk 50 points.
Resistance should appear near 11500 and 11640 to 11690. Beyond that a test of 11817 is likely
Traders can sell at 11687 and risk 50 points.
JUNE SWISS FRANC
Resistance should appear near 11320 and 11690
Support should appear near 10680 and 10580
JUNE BRITISH POUND
Support should appear near 15690 and 15350
Resistance should appear near 16150 and 16420 to 16550
JUNE CANADIAN DOLLAR
Resistance should appear near 8484 to 8499 and 8560 to 8589
Support should appear near 8300 and 8194.
JUNE AUSSIE DOLLAR Resistance should appear near 8300 to 8314 and 8392 to 8406
Support should appear near 7939 and 7836.
Stay tuned for Forex flashes and updates.
THE PRECIOUS METALS
AUGUST GOLD
Resistance should appear near 1232.0 to 1238.0 and 1268.0
Support should appear near 1203.0 and 1180.5
JULY COPPER Resistance should appear near 29280 to 29370 and the 29720 to 29900 region. Beyond that sellers should appear near 30360 to 30450.
Support should appear near 28830 to 28740 and the 28290 to 28200 region.
JULY SILVER
Support should appear near 1731.0 and 1689.0
Resistance is at 1780.0 and 1808.0
THE EXCITING ENERGIES
JULY CRUDE OIL
Support should appear near 6023, a close under augurs for a test of 5880 to 5855. Below that buyers should appear near 5729 to 5716.
Resistance should appear near 6101 to 6113 and 6165 to 6190 and 6337 to 6350.
AUGUST CRUDE OIL
Support should appear near 6035 then 5957 to 5945 and 5805 to 5792
Resistance should appear near 6190 then 6270 and 6417 to 6430
JULY BRENT CRUDE OIL
Support should appear near 6591 top 6577 and 6350 to 6337.
Resistance should appear near 6809 to 6836 region. Beyond that sellers should appear near 6906 to 6919 and 7074 to 7086
JULY HEATING OIL
Support should appear near 19820 the 19530 to 19460 and the 19090 to 19020 region.
Resistance should appear 20340 to 20420 then 20800 to 20890 and the 21260 to 21340 region.
JULY UNLEADED GAS
Support should appear near 20340 then 19960 to 19820 and the 19090 to 19020 region.
Resistance should appear 20800 to 20890 and the 21700 to 21850 region.
JULY NATURAL GAS
Support should appear near 2.972 then 2.937 to 2.928 and the 2.883 to 2.874 region.
Resistance should appear near 3.148 to 3.157 and 3.261 to 3.270. Beyond that sellers should appear near 3.377 to 3.386 and cap a rally. Stay Tuned for Energy Flashes and Updates
THE GRANDE’ GRAINS
JULY SOYBEANS Support should appear near 944 ½ to 942 ¾ and 934 ¾ to 931 ¾. Below that a test of 906 to 904 ½ and the 896 ½ to 893 ½ region is likely.
Resistance should appear near 970 ¾ to 973 ¾ and 982 ¼ to 983 ¾. Beyond that sellers should appear near 1002 ¼ to 1003 ¾ and cap a rally.
NOVEMBER SOYBEANS
Support should appear near 931 ¾. Below that a test of 915 ¾ to 914 and 906 to 904 ½ region is likely.
Resistance should appear near 962 ½ to 964 ¼ and 970 ¾ to 973 ¾.
JULY SOYOIL Support should appear near 3261 and 3213 to 3194.
Resistance should appear near 3377 to 3386 and 3425 to 3443.
JULY SOYMEAL Resistance should appear near 304.5 then 309.2 to 310.2 and 314.8 to 315.7
Support should appear near 299.0 to 297.2. Below that buyers should appear near 282.9 to 282.0.
JULY CORN
Support should appear near 316 ¼ then 350 ¼ to 349 ½ and the 327 to 326 ¼ region Resistance should appear near 366 ¼ to 368 ¼ and 379 ½ to 380 ¾.
JULY WHEAT Support should appear near 506 ½ to 505 ¾ and 492 ¾ to 491 ½
Resistance should appear near 520 to 521 ¼ and 534 ½ to 535 ¾ Stay tuned for Grain flashes and updates.
THE LIVELY LIVESTOCK
JUNE CATTLE Support should appear near 14960 to 14840, a close under is negative and augurs for a test of the 14590 to 14530 region.
Resistance should appear near 15290 to 15350 and the 15690 to 15760 region.
Trade Accordingly.
AUGUST CATTLE
Support should appear near 14960 to 14840 and the14590 to 14530 region.
Resistance should appear near 15290 to 15350 and 15517
JUNE HOGS Support should appear near 8317 to 8202 and the 8222 to 8192 region..
Resistance should appear near 8392 to 8407 and 8482 to 8502
Traders can sell at 8482 and hold for lower prices. Stay tuned for flashes.
OCTOBER HOGS
Support should appear near 7257 to 7242 and 7002 to 6992
Resistance should appear near 7412 to 7427 and 7762 to 7777
THE SATISFYING SOFTS
JULY COFFEE
Resistance should appear near 14150 to 14210 and 14530 to 14590 Traders can sell at 14520 and risk a close over 14610 for three days in a row.
Support should appear near 13460 to 13340 and 12740 to 12680
JULY COCOA
Support should appear near 2972 to 2990 and 2829 to 2820.
Resistance should appear near 3319 to 3326 and 3425 to 3443.
JULY SUGAR
Resistance is near 1334 to 1346 and the 1377 to 1383 region. Support should appear near 1274 to 1268 and 1238 to 1232, a close under augurs for a test of 1203 to 1192 and eventually the 1169 to 1164 region. Trade Accordingly.
JULY COTTON
Support should appear near 6250 to 6337 and 6035 to 6023.
Resistance is at 6809 to 6836 and 6906 to 6919
Stay tuned for Flashes and Updates in all Markets
–A Ship in Harbor is Safe…But that is not what ships are built for –
Happy Trading!
Bill wil@futurescom.com Sunday May 17, 2015 4:40 PM South Florida Beach Time
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