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.
Friday July 18th 1997
05:15 Hrs AM. NYC TIME
Sept J-Yen
Good Resistance is near 8771 where traders should sell for a turn , risk 30 pts. Nearby resistance is at 8749 where day traders can sell an early rally, good support is near 8624 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 6809 sell there risk 25 pts then 6824 and 6906 where traders can look to short for a position , risk a close over 6955 .Support remains near 6741and 6724, a close under 6750 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 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 5627 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 5777 and 5553 below that 5527 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 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 321.4 for a bounce risk a trade under 317. Below that 311 should hold. for today...
Sept Copper
.Recommended Position Long at 113.55. and long at 109.65.
Resistance is near 108.45 thern 109.50. Support is near 106.45.then 104.50 Belw that 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 388 then 384.9 . A close over 395 augurs for a test of 403..Resistance is near 394 then 404. Above that 407 should trade then 410 , sell there for a turn risk a close over 416.
Still Bullish.. Buy this dip....
Sept Silver:
Support should appear near 422..then 415.5 , below that 405/401 where long term long term traders can buy for a position, risk a close under 398 for three days in a row. Short term players can buy 417 for a bounce risk 6 cents. Resistance is near 433 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 should appear near1954 where day traders can buy for a bounce , risk 35 pts.Resistance is near 2003 and 2028 . Above that sell near 2088 for a turn.
..August Unleaded Recommended position Short at 6205
Support is near 6160 then 6115 and 6015,buy there risk a trae under 5905 ,below that 5815 should hold. .Resistance is near 6215 and 6315..
August Heating Oil Recommended Position Short at 5430
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 5505 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 738
Support is near 726 1/2 then 712 . Resistance is near 741 , beyond that 7483 /4 then 755. A close over 742 or an extended over 739 augurs for a test of 753 ...
Trade Accordingly...
November Beans
Support is near 597 then near 591 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 611 above that. 619 and 625
Trade Accordingly....
Dec Soybean Meal.
Support is near 190.2 , 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 197 then 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 2298 above that 2322 offers selling then 2339 .
Stay Tuned....
Sept Corn Recommended Position Short at 251
Resistance is near 251 3/4 then 255 ..Support is near 245, under that 241 3/4 , a close under 245 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 1101 then 1087 where traders can buy for a position, risk a close under 1056 for three days in a row.Resistance is near 1128 and 1141
September the' Monster' Coffee Recommended [position long at 159.55
Early support is near 159.65 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 162.70 and 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 two more days in a row... Resistance is near 7870 then 7930 above that 8020 should trade. Support is near 7450 then 7205..
Sept Cocoa Recommended position long at 1535
Support is near 1515, buy there for a bounce, risk 40 pt . 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 1548 and 1585 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 6627 buy there for a bounce risk 70 pts. more support is neatt 6597 then 6527 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 6745 beyond that 6780 should stop the rally for now.
Trade Accordingly..
August Feeder Cattle
Good support is 8217 then 8167 . Below that medium term traders should have buys waiting.at 8137 risk 50 pt...stay tuned. Resistance is near 8267 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 8032 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 8090, above that 8117 then 8187 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 8505 then 8377 then 8317., a trade under 8280 augurs for a slip to 8012.. Resistance is near 8675 then 8777 and 8800.
A close under 8347 is negative...
U.S. 30 Year Bonds.
Sept Bonds
Recommended Short at 110-18 and 111-26 ,113-01
Early support is near 114-03 then 113-21 Resistance is near 114-21 then 114-26 . A close under 114-03 indicates weakness and a pullback to 112-21 . Good buyers should appear near 113-20
Standard and poor's SP 500 Index
Sept SP500
On the Downside, support is at 932.60 then 931.60 Below that 923.60 is likely to trade .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 937.95 yesterday .. for today Cover if a trade trade to 911.55 occurs...
Happy Trading
Bill