FuturesCom Investment Publications
Morning Comments Oct 26 1998
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Courage in a Speculator is merely confidence to act on the decision of his mind

On the DownSide support is 8499 to 8484 then 8442. Under that support is at 8406. On the Upside resistance is at 8560 then 8589, an extended trade over 8592 augurs for a test of 8668 and 8737.

Resistance is at 6134 and 6165 to 6190. Support is at 6117 and 6067 below that support is at 6035.

Resistance is at 7513 and 7526 to 7534 Day traders can sell an early rally to 7523. Above that resistance is at 7576.

On the DownSide Support should appear 7486 and 7476. A close under 7476 augurs for a test of 7428 and 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 1.6890 then 1.6960 and 1.6994 to 1.7018.

Support is at 6439 and 6430, day traders can buy at 6430 risk 20 pts.
Resistance is at 6489 then 6509 and 6540. A close over 6540 augurs for a test of 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 290.9 to 289.9 Resistance is at 294.4 and 295.10. A close over 294.40 is friendly and augurs for a test of 300.8

Nearby Support is at 7245 and 7230 then 7145

Resistance is at 7345 an extended trade or close over 7345 augurs for a test of 7470 then 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 337.7 and 334.5 Resistance is at 344.0 to 347.5.

On the DownSide: Support is at 484.3 to 481 and 467.5
On the Upside. Resistance is at 491 a close over 491.5 is friendly for a spurt towards 506. Beyond that a trade towards 531 is likely.

Trade Accordingly.

Support is at 1404 and 1383 Under 1379 to 1369 should hold.
Resistance is at 1415 tom 1421 and 1429 beyond that a test of 1454 is likely

Trade Accordingly

Support is at 4285 and 4269 day traders can buy at 4285, risk 50 pts.
Below that support is at 4170.
Resistance is at 4370. A close over 4370 augurs for a test of 4480 to 4503.

Support is at 548 1/4. Traders can buy at 546 for a turn higher, Risk a close under 530 for two days in a row. Below that 538 to 534 should hold.

Resistance is at 552 and 554 then 562. A close over 561 augurs for a test of 567 and eventually to 576 and 583

Support is near 138.0, under that 137.1 to 136 should hold. Resistance is at 140.5 and 142

Support is at 2484 and 2469 to 2461.

Resistance is at 2515 then 2552 to 2568 A close over 2515 augurs for a test of 2558.

Resistance is at 224 and 226.

Support is at 294 and 292 then 288.

Trade Accordingly...

Support is at 6799 and 6749 then 6700

Resistance is 6836 and 6850, a close over 6850 augurs for a test
of 6910 and 6990 to 7003.

Support is at 768 to 762 then 754 where it should hold. Day traders can buy at 768 risk a trade under 740. Below that support is at 728.

Resistance is at 791 to 795 and 808 to 811 where sellers should appear. A close over 808 augurs for a test of 847 to 852.

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

On the downside, Support is at 106.30 to 105.80 and 104.60. Below that 103.80 to 103.00 should hold.

On the Upside, Early Resistance is at 107.05. A close over 107. 05 augurs for test of 109.60 and 110.10.

Resistance is at 1541 then 1555 and 1569 to 1576 and 1584. However a close over 1576 augurs for a test of 1609/ 1615 to 1625.

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

Nearby Support is at 6577 and 6547 then 6522 to 6507 Day traders can Buy at 6577 for a turn higher , risk 100 pts. Resistance is at 6627 and 6657, beyond that a test of 6697 and 6742 is likely .

Support is at 4017 and 3992 to 3982. Day Traders should Go long at 4017 and risk 70 pts. A close under 3982 is negative for a test of 3917 to 3857 where it should hold.

Resistance is at 4057 and 4117. A close over 4117 is friendly for a test of 4212.

Support is at 4417 to 4402 and 4372. Below that 4322 offers good support.

Resistance is at 4517 then 4572 , beyond that 4617 should cap a rally

Nearby Support is at 5067 to 5057 under that Day Traders should Buy at 4977 and put your own risk on it. Below that 4922 offers good support and should hold today . Below that 4857 to 4827 should hold

Resistance is at 5127 to 5137 an extended trade over 5137 augurs for a test of 5222 to 5277 beyond that a test of 5362 is likely

-Stay tuned for Updates in the Meat Complex.-

--From the Frying Pan into the Fire--

On The DownSide, at 127-02 to 127-00 , under that 126-19 should hold.
On the Upside: Resistance is at 128-00, beyond that sellers should appear at 128-19

On the DownSide, Support is at 1071.90 to 1071.40 Day traders should buy at 1071.90. 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 1078.30 then 1081.60 to 1082 Where good sellers should show up at. An extended trade or close over 1082 augurs for a test of 1096 and 1101 to 1103.90. Which is more likely to happen than not.
A close over 1105. 00 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 8447 and 8406 to 8391, a slip under 8390 augurs for a test of 8314 to 8300 Where it should hold basis the close.

Resistance should first appear at 8484 and 8499. Beyond that resistance is at 8560 and 8584.