Forex ...Precious Metals ...Energies....Grains...Softs...Livestock...Bonds..SP500
THIS PUBLICATION CONTAINS THE VIEW AND OPINIONS OF THE AUTHOR, EXCEPT WHERE OPINIONS ARE ATTRIBUTED TO OTHER SOURCES. WRITTEN PERMISSION IS. REQUIRED PRIOR TO ANY DISTRIBUTION OR REPRODUCTION. FUTURES TRADING IS RISKY AND CAN CAUSE SUBSTANTIAL FINANCIAL LOSS. THE USE OF OPTIONS AND OPTION TRADING INVOLVES A HIGH DEGREE OF RISK. THE USE OF STOPS MAY NOT LIMIT LOSSES TO INTENDED AMOUNTS. SPREAD POSITIONS MAY NOT BE LESS RISKY THAN OUTRIGHT FUTURES POSITIONS. PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. SOURCES ARE BELIEVED TO BE RELIABLE BUT NO ASSURANCE IS MADE FOR ACCURACY. ADDITIONAL RISK DISCLOSURE IS AVAILABLE.
Thurday July 17th 1997
01:15 Hrs AM. NYC TIME
A trader should not swear eternal allegiance to either a bull or bear side. His concern lies with being right.
Sept J-Yen
Good Resistance is near 8818 where traders should sell for a turn , risk 30 pts. Nearby resistance is at 8718 then 8762.where day traders can sell an early rally, good support is near 8639 where traders can buy for a bounce risk 20 pts. Beyond that a drop to 8589 is likely.
Trade Accordingly...
Sept Swiss Franc
Early resistance is near 6831 sell there risk 25 pts then 6847 and 6906 where traders can look to short for a position , risk a close over 6955 .Support remains near 6797.Eventually a slip to 6741 is likely , a close under 6730 augurs for a test of 6673 , Buy at 6662 for a bounce , risk a close under 6640 for two days in a row...
Sept British:
Support is near 166.90 then 165.50 where longs can be established for a bounce , risk a close under 164.20 for three days in a row. More support is near 162.66. Resistance is near 167.90 then 16890 and 169.60, sell 16960 for a turn risk a close over 170.60. for two days in a row.
Sept D-Mark Recommended Position Long at 5609(BW) and 5577(MC)
Resistance should appear at 5624 then 5640 . Above that 5670 and 5716 where short term traders can sell for a turn, risk a close over 5741..stay tuned Support is near 5774 and 5553 below that 5524 should hold...
Prescious Metals
August Gold
Long term traders should have buy orders waiting to assume longs for the pull.at 305.50 risk a close under 303.5 for two days in a row...Resistance is near 320 a close over 321 augurs for a thrust to 327 then 337 .Where Sellers can short the Yellow Metal for a turn and risk a close over .345 for two days in a row..Nearby Traders should buy at 315.7 for a bounce risk a trade under 314.9 Below that 310 should hold. for today...
Sept Copper
.Recommended Position Long at 113.55. and long at 109.65.
Resistance is near 104.45 , then 105.65 to 106.60., beyond that 108.40 should trade. Support is near 102.45. Traders should buy at 102.30 for a good bounce risk a close 99.15
Trade Accordingly..
Oct Platinum Recommended Position Long at 393.
Support should appear at 393.4 then 388.9 . A close over 394 augurs for a test of 403..Resistance is near 397 then 403. Above that 405 should trade then 410 , sell threr for a turn risk a close over 416.
Still Bullish.. Buy this dip....
Sept Silver: * Recommended Long at 416
Support should appear near 412 then 408 to 401 where long term long term traders can buy for a position, risk a close under 398 for three days in a row. Nearby support come in at 416 where short term players can buy for a bounce risk 6 cents. Resistance is near 425 then 448 beyond that a test of 457 is likely , sell there for a turn , risk a close over 465 for two days in a row
Trade Accordingly...
The Exciting Energies
August Crude Oil.
Support in CLQ should appear near1951 where day traders can buy for a bounce , risk 35 pts.Resistance is near 1976 then 2009.. Above that sell near 2088 and have the Bi-Weekly nearby..
..August Unleaded
Support is near 6015,buy there risk a trae under 55905 ,below that 5815 should hold. .Resistance is near 6110,. Above that sell near 6205 for a turn lower, risk a close over 6270 or 150 pts.
August Heating Oil.
Support near 5175 , buy there for a turn risk 50 pt. Below that 5055 is where agressive traders can buy for a turn higher and risk 80 pts Resistance is near 5290 then 5430 Where traders can sell for a turn , risk 150 pts. More Resistance is near 5515 and 5645, sell 5645 for a turn and risk a close over 5730 for three days in a row.
Trade Accordingly..
The ‘Grande’ Grains
August Beans Recommended long at 744 1/2
Support is near 739 , Buy at 738 risk a close under 737 or a trade under 722.. Resistance is near 743 , beyond that 753 3/4 then 767 close over 743 or an extended over 739 augurs for a test of 753
Trade Accordingly...
November Beans
Support is near 596 then near 588 3/4 below that 580 where traders should Buy for a tuurn higher , risk a close under 565 for three days in a row...Resistance is near 610 above that. 615 and 621
Trade Accordingly....
Dec Soybean Meal.
Support is near 192.2 , below that a slip to 188 is likely , traders can buy at 187.9 for a turn higher, risk a close under 185.9 Resistance is near 200.9 Sell near 203.7 for a turn risk a trade over 207.
Dec Soybean Oil
Nearby support is at 2216 Buy there to restablish longs from last week.
Resistance is near 2305 above that 2319 offers selling then 2348 and 2378, sell at 2378 for a turn, risk a close over 2405 for three days in a row.
Stay Tuned....
Sept Corn Recommended Position Short at 251
Resistance is near 252 3/4 to 255..Support is near 245, under that 242 3/4 ,a close under 250 augurs for a drop to 240.
Trade Accordingly.
December Wheat
Resistance is near 349 then 355 and 359 sell there for a turn risk a close over 362..Above that 373 should trade. Support is near 342 then 337 . Traders are urged to have buy orders waiting for a bounce at 337 , risk a close under 330 for three days in a row.
Trade Accordingly.
Dec Oats
. Resistance is near 153 above that 157 then 163 .Support is near 147 then 145.
The Satisfying Softs
October Cotton
Support is near 7295 then 7245 where traders can buy for a position, use a stop close under 7140 for three days in a row. Resistance should appear near 7465 then 7505 and 7575, sell at 7575 for a turn risk a close over 7675 for two days in a row.
October Sugar Recommended Short at 1130
Support is near 1097 then 1087 where traders can buy for a position, risk a close under 1056 for three days in a row.Resistance is near 1135 / 1137 traders can sell 1130 to 1135 for a turn , risk a close over 1158 for three days in a row.
September the' Monster' Coffee
Early support is near 159.55 Buy there and risk a trade /close under 152.pick your poison. Good Support remains at 149.60 to 148.95 buy at 149.60 for the 'pull'. risk a close under 147 for three days in a row. Resistance is near 165.60 then 168.90 .. Position traders should sell short at 173.45 , risk a close over 179.50. More resistance is near 181 then 187. Hearty traders can sell near 212.50 , risk a close over 213.5 for three days in a row...
Stay Tuned & Have your' Steel Cup' Ready
November Orange Juice Recommended Position Long at 7860.
Risk a close under 7650 for three days in a row... Resistance is near 7870 then 8020 above that 8230 should trade. Support is near 7550 then 7345.
Still Friendly...
Sept Cocoa
Support is near 1535, buy there risk a close under 1521 for three days in a row. Below that a slip to 1462 is likely, have buy orders waiting at 1459 for a bounce risk a close under 1422.. Resistance is near 15781 then 1628 and 1644. Go short for a turn at 1644, risk a close over 1655 for three days in a row.
The Lively Livestock
August Cattle
Nearby Support is 6645 buy there for a bounce risk 70 pts. more support is neatt 6520 where traders should buy with both hands for a bounce risk a trade under 6407. A break to 6595 should encourage buyers to appear. Resisitance is near 6670 and 6727.then 6745 beyond that 6780 should stop the rally for now.
Trade Accordingly..
August Feeder Cattle
Good support is 8167 then 8152 and 8122 . Below that medium term traders should have buys waiting.at 8017 risk a close under 8007...stay tuned. Resistance is near 8252 then 8317, beyond that a test of 8355 is likely...
August Hogs Recommended Position long at 8065 rik a close under 7980.
Support is near 8017 where traders can buy for a bounce. risk 60 pts. .Below that 7980 should hold basis the close If not, slip to 7640 is likely.... .Resistance is near 8082, above that 8117 then 8177 where we would sell for a turn risk a close over 8317 for three days in a row.. Good sellers remain near 8212 and 8260.
Trade Accordingly...
August Bellies Recommended position Short at 8307, 8185, and 7785 and 7947(Flashes,MC)
Support is near 8227 then 8192, then 8162., a trade under 8155 augurs for a slip to 8072 then 8005.. A close under 8072 Augurs for a drop to 7842. Below that 7767 then 7642 where it should hold , if not a drive towards 7432 then 7180 is under way..... Resistance is near 8312 then 8367 and 8545.
A close under 8200 is negative...
U.S. 30 Year Bonds.
Sept Bonds
Recommended Short at 110-18 and 111-26 ,113-01
Early support is near 114-20 then 114-12 Below that 114-05. then 113-20.. Resistance is near 115-04 to 115-13 then 115-20 . A close under 114-20 indicates weakness and a pullback to 114-05 Failure aat 114-05 basis the close would lead to a slip towards 113-14. Good buyers should appear near 113-20
Standard and poor's SP 500 Index
Sept SP500
On the Downside, support is at 939.55 then 938.80 and 937.80 Below that Buy at 934.70 for a bounce risk 150 pts .On the Upside, Resistance is near 942.90 then 943.60 where traders can short for a quick turn, risk 150 pts . More Resistance is near 946.45 sell there for a turn risk 200 pts , beyond that 949.70 should trade then 952.60. ..Beyond that augurs for a test of 958.90 ......High Risk traders should have added shorts at 944.50 or better ysterday .. for today add shorts on a close under 939.45.
Happy Trading
Bill