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.
Monday July 21th 1997
05:45 Hrs AM. NYC TIME
Sept J-Yen
Good Resistance is near 8810 where traders should sell for a turn , risk 30 pts. Nearby resistance is at 8732 where day traders can sell an early rally, good support is near 8632 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 6853 sell there risk 25 pts above that 6906 is 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 5577
Resistance should appear at 5631 then 5681 and 5716 where short term traders can sell for a turn, risk a close over 5741..stay tuned Support is near 5581 and 5553 below that 5531 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 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.
Sept Copper
.Recommended Position long at 109.65.
Resistance is near 108.60 thern 109.35. Support is near 106.60.then 105.35 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 394 then 386/384 .Resistance is near 404. Above that 406 should trade then 410 , exit/sell there for a turn risk a close over 416.
Still Bullish.. ....
Sept Silver:
Support should appear near 418 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
Septt Crude Oil.
Support should appear near1909 where day traders can buy for a bounce , risk 35 pts.Resistance is near 2028.
..August Unleaded
Support is near 5815. .Resistance is near 6180 and 6315..
August Heating Oil
Support is near 5055 where agressive traders can buy for a turn higher and risk 80 pts Resistance is near 5325 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 Exit at 741 or a close under 727 today only.
Support is near 713 , buy there for a bounce , risk 7 cenyt.. Resistance is near 727 , beyond that 741 3/4 then 755.
Trade Accordingly...
November Beans
Support is near 590 then 583, below that 580 where traders should Buy for a turn higher , risk a close under 565 for three days in a row...Resistance is near 597 above that. 611 and 618
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 establish longs.
Resistance is near 2290 above that 2326 offers selling then 2339 .
Stay Tuned....
Sept Corn Recommended Position Short at 251 Exit Today at 242
Resistance is near 245 3/4 and 250 3/4. .Support is near 241 3/4 , under that 238 3/4 , a close under 245 augurs for a drop to 238 1/2 .
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 344 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.
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 7530 then 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 1121 then 1104 below that 1087 is where traders can cover/ buy for a position, risk a close under 1056 for three days in a row.Resistance is near 1133 and 1144
September the' Monster' Coffee
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 165.60 then 166.65. 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 today .. Resistance is near 7670 to 7750 then 7930, Above that 8005 should trade. Support is near 7510 then 7445..
Sept Cocoa Recommended position long at 1535
Support is near 1538 then 1508, buy there for a bounce, risk 15 pts . 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 1569 and 1585.Above that Go short for a turn at 1644, risk a close over 1655 for three days in a row.
A close over 1549 is friendly...
The Lively Livestock
August Cattle
Nearby Support is 6645 then 6602 buy there for a bounce risk 50 pts. more support is near 6570 then 6527 where traders should buy for a turn higher, risk a close under 6447.Resisitance is near 6677 and 6752 beyond that 6767 should stop the rally for now.
Trade Accordingly..
August Feeder Cattle
Good support is 8227 then 8137 ,medium term traders should have buys waiting.at 8137 risk 50 pt. Resistance is near 8300 then 8317, beyond that a test of 8387 is likely...
August Hogs
Support is near 8097 , below that traders can buy at 7997 for a bounce. risk 60 pts. .Below that 7980 should hold basis the close If not, slip to 7640 is likely.... .Resistance is near 8187, above that sell at 8225 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, 7785 and 7947(Flashes,MC)
Support is near 8497 then 8377, a close under 8437 augurs for a slip to 8012.. Resistance is near 8677 then 8727 and 8777. beyond that a test of 8900 is likely , sell at 8917 for a turn.....
A close under 8407 is negative...stay tuned
U.S. 30 Year Bonds.
Sept Bonds
Recommended Short at 111-26,113-01
Early support is near 114-00 then 113-22 Resistance is near 114-22 then 115-04 . A close under 114-00 indicates weakness and a pullback to 112-21 . Good buyers should appear near 113-22
Standard and poor's SP 500 Index
Sept SP500 Recommended Long at 911.45 last eve (BW) Exit at 915 This Morn if able....
On the Downside, we would buy 911.45 for a bounce higher, stay tuned.... A close under 914 augurs for a pullback to 906 to 904.40 where we would probe the long side use a 250 pt stop. Below that 899.50 is likely. If the market closes under 899.00 a slip towards the 896.40 to the 893.40 region can be expected. A drop under that augurs for a pull-back to 880.55 or 864.70 where traders hould not run, but Buy.....stay tuned..On the Upside, Resistance is near 923.60 then 927.85 where traders can short for a qick turn, risk 150 pts or a close over 930.82 Pick Your Poison.. but stay tuned... A trade/ close over 931.60 augurs for a pop to 934.70 then 943.10 .. Beyond that 958.90 should. trade....
Stay Tuned.. and Remember
"When in Doubt Stay Out".
*.High Risk traders should have covered some shorts last eve. for today Cover 1/3 of remaining if a trade trade to 911.65 occurs....stay tuned *
Happy Trading ..
Bill