FuturesCom Investment Publications
Morning Comments Thursday Oct 22nd 1998
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On the DownSide support is 8529. Below that 8499 to 8484 should hold. A close under 8484 augurs for a test of 8406.

On the Upside resistance is at 8560 to 8589 and 8621 to 8629, an extended trade over augurs for a test of 8728 and 8762 to 8777 then 8815. Beyond that 8849 offers good resistance, a close over 8849 augurs for a test of 8934 and 8996. Beyond that resistance is at 9044 to 9060. Above that good sellers should appear at 9140 to 9156. Traders should sell short at 9140 for a turn lower, risk a close over 9156 for two days in a row..

Resistance is at 6048 and 6061, beyond that sellers should appear at 6101 to 6113 and cap a rally today. Support is at 6035 to 6023 below that support is at 5957 to 5945. Where traders can buy at 5957 and hold for higher prices.

Resistance is at 7440, beyond that sellers should appear early near 7470. Beyond that Day traders can sell an early rally to 7516. Above that resistance is at 7555 to 7566.

On the DownSide good Support should appear 7414. A close under 7414 augurs for a test of 7370 then 7342 to 7328. Traders can buy at 7342 for a good bounce, risk a close under 7328 for three days in a row.

Resistance is at 1.6960 and 1.6994 to 1.7018..

Support is at 6444 and 6432, day traders can buy at 6432 risk 20 pts.

Resistance is at 6482 then 6532. A close over 6532 augurs for a test of 6552 and 6577 to 6591. Beyond that 6673 offers resistance. Traders can sell at 6673 for a turn lower, risk a close over 6741.

Support is at 295.8 to 294 and 292.8 then 289.5

Resistance is at 297.90 to 299.50. A close over 299.50 augurs for another test of the 303.60 region

Nearby Support is at 7245 and 7195.

Resistance is at 7335, an extended trade or close over 7335 augurs for a test of 7415 then 7500 to 7535. A close over 7510 augurs for a test of 7610 and 7650 to 7710. *Traders should go long if a close over 7510 occurs..

Support is at 339.1 and 336.5 Resistance is at 343.5 then 346.5. A close over 346.5 augurs for an eventual test of 356.5.

On the DownSide: Support is at 488.0 to 487 Day traders should Buy Dec. Silver at 487.5 and hold for higher prices. Below that good buyers should appear at 483.0. and 475.

On the Upside. Nearby Resistance is at 492,5 and 499, a close over 499 is friendly for a spurt towards 506. Beyond that a trade towards 527 is likely.

Trade Accordingly.

Support is at 1401 and 1376 day traders should buy a dip to 1384 and risk a trade

Under 1355 Under that 1335 should hold.
Resistance is at 1426 beyond that a test of 1451 to 1472 is likely

Trade Accordingly

Support is at 4355 and 4315 day traders can buy at 4315, risk 125 pts.
Below that support is at 4255.
Resistance is at 4455 to 4470. A close over 4455 augurs for a test of 4510 and 4550.

Resistance is at 4070 and 4119 to 4122, a close over 4122 is friendly and augurs for an eventual test of 4435...

On the DownSide support is at 3990 then 3920 where it should hold today.

Support is at 547 and 542. Below that 536 1/2 should hold.

Traders can buy at 546 for a turn higher, Risk a close under 530 for two days in a row.

Resistance is at 553 and 560. A close over 561 augurs for a test of 569 and
eventually to 573 and 583 Be long.

Support is near 136.7, under that 134.4 should hold. Resistance is at 138.5 and 139.5

Support is at 2519 to 2511/ 2508. Day traders can buy at 2511, risk 30 pts. Below that 2498 to 2492 should hold today.
Resistance is at 2541 then 2552 to 2568 A close over 2568 augurs for a test of 2608 to 2612.

Support is at 217 1/2 and 214 3/4.

Resistance is at 219 1/2 and 221. Beyond that 224 1/2 offers good resistance.

Support is at 283 3/4 and 281.1/2 Day Traders can buy at 283 3/4 for a turn higher, risk a 4 cents

Trade Accordingly...

Support is at 6890 and 6875. Below that 6825 to 6790 and 6720.

Resistance is 6945 to 6975 Beyond that a test of 7050 is likely.. if it holds.

Support is at 763 to 761 where it should hold. Day traders can buy at 761 risk a trade under 749. Below that support is at 758 and 721.

Resistance is at 767 to 769. A close over 769 is friendly for test of the 791 to 795 and more likely 801 where sellers should appear. A close over 801 augurs for a test of 847 to 852.

*Traders should go long using a 799 buy stop.,

On the downside, Support is at 104.25 and 103.80 to 103.00 , under that support is at 101.80 where good buyers should surface.

On the Upside, Early Resistance is at 105.80 and 106.75/106.80 . A close over 106.80 augurs for test of 109.00 to 109.20 and 110.10.

Resistance is at 1553 then 1569 to 1576 and 1582. However a close over 1576 augurs for a test of 1609/ 1615 to 1625.

**Traders should go long / add if a close over 1576 occurs.

Nearby Support is at 6452 then 6430 to 6417 and 6392, traders should buy at 6417 for a bounce, risk a close under 6337 for three days in a row.

Resistance is at 6487 and 6517, beyond that resistance is at 6537 A close over 6537 augurs for an eventual test of 6622 and 6677.

Support is at 4107 and 4077 then 4002 to 3992. Traders should Go long at 3992 and risk a close under 3902 for three days in a row.
Resistance is at 4152. However the close over 4087 augurs for a test of the 4202.

Support is at 4512 to 4502 and 4477. Day traders can buy at 4502, risk 50 pts. Below that 4407 to 4402 offers good support.

Resistance is at 4572 to 4582 and 4602 A close over 4607 is friendly and augurs for an eventual test of 4702 If it holds.

Nearby Support is at 4937 and 4927 to 4912 below that 4817 should hold today . Day Traders should Buy at 4817 and risk 50 pts. Under that a decline to the 4717 region should hold for a few days.
Resistance is at 4967, an extended trade over augurs for a test of 5072 and 5117 a close over 5117 augurs for a test of 5237

-Stay tuned for Updates in the Meat Complex.-

--From the Frying Pan into the Fire--

On The DownSide, at 128-07 and 127-30 below that 127-17 then 127-04 to 126-30 should hold.

On the Upside: Resistance is at 128-21 and 128-30, beyond that sellers should appear at 129-02 and 129-30

On the DownSide, Support is at 1071.80. Day traders should buy at 071.80. Below that support is at 1068 and 1063 then 1058. An extended slip under 1058 augurs for a test of 1047.00 Below that 1039.40 to 1038.00 and 1036 should hold. Traders can Buy at 1039.40 and Hold.....A close under 1036 indicates a test of 1030. Below that support is at 1021.90 and 1018.50 , under that 1008.60 should contain a break...for now on a closing basis.

On the Upside, Resistance is at 1074.50 and 1082 then 1086.90 Where good sellers should show up at. An extended trade or close over 1087 augurs for a test of the 1096 and 1101 to 1102.20. A close over 1102.50 augurs for a likely test of 1110.40 and 1115.50 to 1118.20. A close over 1115.50 augurs for an eventual test of 1130 to 1136 Which should cap a rally, Traders can sell short at 1133.50. Initially Plan on Risking a close over 1136 for three days in a row.

Stay Tuned for Updates and Flashes...

Support is 8499 and 8484 then 8413 to 8406 and 8399.95 to 8391, a slip under 8390 augurs for a test of 8324 and 83214 to 8300 A close under 8324 augurs for a test of 8223 to 8194 then 8141 to 8134 and 8119 where it should hold basis the close. However a close under 8119 augurs for a test of 8044 to 8029 which should stop a decline for now.

Resistance should first appear at 8534 and 8560 to 8589. Beyond that 8668 and the 8683 to 8691 region. Offers good resistance. Above that 8762 to 8777 should cap a rally for now.