August 13 1997 5:45 PM est
Sept. J-Yen Recommended position
Long at 8484 (2)
Near term resistance is at 8538 and 8561 ..More Resistance is near
8662 then 8683 beyond that 8710 offers resistance
On the Downside Nearby Support should be evident at 8461. Beyond that augurs
for a slip to 8412 the 8406 where buyers should have orders resting for
a long position . Risk a close under 8355 for two days in a row.
Trade Accordingly.
Sept. Swiss Franc
Support should appear at 6608 . Below that 6560
then 6529 offers some support. Buy there for a bounce risk 30 pts. Early
Resistance is at 6610 to 6660 , then 6710 a close over 6708 augurs for
a trade to 6747 sell there for a quick turn risk a close over 6797 for
three days in a row. Above that 6817 is likley then 6836.
Sept. British:
Early Support is at 15808 below that 155.06 offers
support ,buy there for a turn higher risk a close under 153.50 for three
days in a row. Resistance is near 159.76 then 160.90 sell there for a turn
, risk a close over 161.50 for three days in a row.
Sept. D-Mark
Resistance should appear near 5451 above that
5477 , beyond that 5548 offers resistance,Short term traders can sell short
at 5553 for a turn, risk a close over 5577 initially.Stay tuned. Beyond
that 5633 is likely. Support is near 5401 then 5377 and 5351, buy there
for a bounce, risk a 20 pts
Trade Accordingly.
Precious Metals
December Gold Recommended Position
long at 328.80
Support is at 324.9 below that 318 offers support..Resistance
is near 328 then 336 to 338 and 341.2 A close over 338.5 augurs for a thrust
to 345..Where Longs can sell calls or exit positions and await a dip to
re-buy. A close over 348 augurs for a trade to 353 where traders can short
the Yellow Metal for a turn only , risk a close over 356.
Be Long ...Conservative Traders Should Buy April and Feb Gold 370 Calls to maintain exposure on the long Side... .
Sept. Copper Recommended Position
long at 105.80
Resistance is near 105.80 then 106.65, a close
over 105.85 augurs for a test of 107.65 then 109.60, above that sell at
113.90 for a turn lower , risk a close over 114.10 for two days in a row.
Support remains at 103.85 , below that 103.00 to 102.65 offers support
with more at 101.65 .Buy at 101.65 for a bounce stay tuned.
Trade Accordingly
Oct. Platinum Recommended Long
at 437 and 427
Support should appear near 427 where aggressive
traders can begin to buy, more support rests near 417 where traders should
buy for the 'pull' Risk a close under 401 for three days in a row.Resistance
is near 434 to 437 then 455. Beyond that 464 and 478 close over 478 augurs
for a trade to 500.
Buy dips
A close over 438 is Bullish....
Sept. Silver Recommended Position
long at 450
Support should appear near 432 where long term
long term traders can buy for a position, risk a close under 425 for three
days in a row. Resistance is near 445 and 457 then 468.5 sell there for
a turn or to exit , stay tuned ...beyond that 482 should trade...
A close over 445 is friendly.
Be long.
The Exciting Energies
Sept. Crude Oil.Recommended Position
Short at 2026, risk a close over 2048.
Support is near 1997 ,below that 1988 then 1972
offers support ,buy there for a bounce . Below that 1955 1915offer good
support, buy there for a turn higher.. stay tuned... 1882 offers support
where traders should have buy orders waiting for a good bounce , risk a
close under 1865 for three days in a row. Resistance is at 2022 then 2038
and 2047 sell there risk 20 pts. More Resistance is near 2088 , a close
over 2088 augurs for a thrust to 2170 and beyond.
Sept Unleaded Recommended Short
at 6480, risk a close over 6695 today only.
Support is near 6585then 6495 to 6460 , below
that 6435 then 6325.Ressistance is near 6665 too 6690 then 6790
Sept Heating Oil.
Support is near 5525 then 5425. Below that 5390.
Good support is at 5205 and offers a buying region and where traders can
buy for a turn higher and risk a close under 5190 for three days in a row.
Near term Resistance is at 5665then 5725. Sell short at 5710 , risk a close
over 5790 for three days in a row. More Resistance is near 5980. Sell at
5945 for a turn and risk a close over 6035 for two days in a row. Stay
Tuned
Trade Accordingly
The ‘Grande’ Grains
November Beans Recommended position
Long at 617 & 608
Resistance is near 618 then 624 a close over 624
augurs for a test of 638,
Support is at 610 3/4 then 596 and 590 3/4 where traders should buy with
BOTH HANDS for the pull and pray for an early frost.
Trade Accordingly
Dec Soybean Meal
Support is near 196.5 where traders should Buy for
a bounce risk a lose under 192.20
Resistance is near 204 a close over augurs fr a test of 208
Dec Soybean Oil Recommended position
Long at 2185
Buy Dec Bean Oil at 2183 to 2176 , risk a close
under 2126 for three days in a row on either.
Resistance is near 2293 a close over indicates a trade to 2339 then 2354....
Be Long...
Sept Corn
Early support is 262 1/2 then 258, buy there for
a bounce risk 5 cents, Resistance is 267 , sell there for a turn lower.
. Above that 272 is firm....
December Wheat Recommended positon
Long at 379 3/4
Resistance is near 374 then 378,beyond that sell
to short and exit at 388 and risk a close over 392 for three days .in a
row. Support is near 368 3/4 then 366.
Trade Accordingly
The Satisfying Softs
October Cotton
Support is near 7415 then 7360 Resistance should
appear near 7515 beyond that 7620 sell there for a turn risk a close over
7690 for two days in a row.
October Sugar Recommended position
Long at 1149.
Support is near 1153 then 1142 and 1121 where
traders can buy for a bounce, risk a close under 1106 for three days in
a row.More Support is at 1092. Resistance is near 1165, The close over
1153 indicates a rally to 1190 /1193 where traders can exit/sell for a
turn, risk a close over 1203 for three days in a row.
September the' Monster' Coffee Recommended
Position Long at 203.65 & 183
Early support is 182.35 Buy at 181.25 for a bounce', risk a trade under
179.00, A couple of closes under 179 indicates a slip to 155 is likely.
Resistance is near 187.90 then 192.45 then 201.90 /202.05 . a close over
185 indicates a test of 193 then 202. Beyond that 212.50 and 215., a close
over 215 augurs for a rally to 222 then 239 where 'Hearty' traders can
sell at 237.00, risk a close over 240 for three days in a row.
Have your' Steel Cup' Ready
Waiting for it to Perculate up again.
November Orange Juice Recommended position Long at
7725 and 8200
Support is at 7455 then 7335 Resistance is near 7950
A close over 7700 is friendly..
Sept Cocoa Recommended Position
Long at 1535
Support is near 1472 , below that 1459 is where
traders should buy for a bounce risk a close under 1439 for two days in
a row. More support is at 1452. Resistance is near 1502 then 1552 , a close
over 1529 augurs for a test 1576. Beyond that sell short at 1595 risk a
close over 1615 for three days
in a row.
Sept Lumber Recommended Position long at 344, risk a close under 341.40 today only
Support is near 341.30, More Support is 338. where traders
can buy for a bounce risk a close under 330.Resistance is near 346.10,
beyond that 348.80 and 250.30
Trade Accordingly.
The Lively Livestock
Oct Cattle: Recommended Long at
6972
Support is at 6917 then 6907, buy this region
for a bounce , risk 50 pts.. Resisitance is near 7010 then 7052 to 7067
, beyond that 7122 offers a selling region, sell short /exit at 7122 risk
a close over 7170 , for three days in a row.then wait to buy a dip to re-enter
longs.
Trade Accordingly. and stay tuned...
October Feeder Cattle Recommended Long at 7965
Resistance is near 8107 a close over augurs for
a test of 8170 then 8207, a close over 8207 augurs for a test of 8245..
Trade accordingly.
October Hogs Recommended Position
short at 7180 and 7317.
Nearby Resistance is at 7345, sell at 7345 for
a quick turn lower , risk 50 pts. Above that 7367 and 7445 offers resistance
.
Support is at 7245 then 7167 , below that 7137.
August Bellies
Support is near 8442 then 8367 below that
8247, a close under 8447 augurs for a test of 8005
Resistance is near 8742 sell there for a turn lower, risk a close over
8777 for three days in a row.
Feb Bellies
Support is at 7237 offers support , buy 7237 risk
a close under 7097 for two days in a row. Resistance is near 7680 sell
there for a quick turn down , risk a close over 7847 for three days in
a row. stay tuned
U.S. 30 Year Bond Futures.
Sept Bonds Recommended Position
Short at 113-25
Resistance is near 113-29 , and where resistance
should be firm. Position traders should Sell short at 113-25 risk a close
over 114-05 for three days in a row. Above 113-29 , 114-05 offers heavy
resistance.Beyond that 114-29 should cap a rally...
Nearby Support is 113-04 then 112-29 then 112-05. below that 111-29 , 111-21
has firm support , a close under augurs for a test of 111-07 If 111-07
fails to hold , then 110-28 should trade, a close under that would yeild
an eventual slip to 109-28 then 109-15.
Trade Accordingly
Standard and Poor's SP 500 Index Futures
Sept SP500 Recommended position
Short at 929.70
On the Downside, Early and critical support is
923.60
Below that 920.40 offers supports. then 914.05,Buy at 915.60 for a turn
higher ..stay tuned, 915.15 and 914.05 to 913.30 offer support also. A
close Below 914,05 augurs for a test of of 906 00 with 904 below that..If
the market falls to 897.40, go long for a good bounce. A close under 893.40
augurs for a pull back to the 882.00 region , failure there indicates a
slip to 872 then 868.30 with 840.60 the place where traders should Buy
and Hold.
On the Upside, Resistance is at 930.20 to 931.60 then 934.70 to 935.45
and 937.80 to 938.30 , beyond that 942.90 with 944.40 above that . Good
sellers are 945.65 to 947.50 sell short at 945.65, risk a close over 951.45
for two days in a row. Above that 953.70 offers resistance , beyond that
957.60 then 962.30 should bring out good sellers. Sell at 962.50 for a
turn lower. Stay Tuned More sellers should appear near 966.25 where hearty
traders should sell short for a turn lower.
Trade Accordingly and Stay Tuned...
Happy Trading
Bill
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