FuturesCom Investment Publications
Morning Comments, December 21,1998
Dedicated to Excellence in Analysis of Futures Markets
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
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Experienced Since 1979 & Serving Professional and Individual Futures Traders World Wide since 1988
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December 21, 1998
4:42 AM

On the Frenzied Forex Front

March Japanese-Yen

Nearby Support is at 8720. Below that support is at 8683 to 8668 and 8653 then 8589 to 8560.

Resistance is at 8792 to 8820. A close over 8792 augurs for a test of 8856 to 8871. Above that sellers should appear at 8934 to 8963, traders can go short at 8934, risk a close over 8954 for three days in a row.

March D-Mark

Early Support is at 6031 then 6012 and 5990 where a decline should hold.

Resistance is at 6059 and 6075 then 6108 and 6113. Beyond that resistance should appear near 6133 and 6165 to 6190. Traders can sell at 6165 for a turn lower, a close over 6190 for two days in a row. Trade Accordingly.

March Swiss recommended position long at 7594 and 7513

Nearby Support is at 7479. Below that support is at 7462 then 7428.

Early Resistance is at 7525, a close over Is friendly for a test of 7573 and 7612.

March British Pound

Support is at 1.6720, Below that support is at 1.6550 and 1.6420.

Resistance is at 1.6890 and 1.6960. Traders can sell at 1.6960, for a turn lower risk a close over 171.34. Beyond that a trade to the 1.7310/ 17380 region is likely.

March Canadian Dollar

Support is at 6463 to 6453. Under that support is at 6430 to 6417.

Resistance is at 6509 and 6541 an extended trade over 6541 is friendly and augurs for a test of 6577 to 6591. Beyond that resistance is at 6626. Trade accordingly.

Precious Metals

Feb. Gold recommended position long at 298.10

Support is at 288, a close under 287 is negative for a dip towards the 280 to 277.8 region where good buyers should surface.

Resistance is at 295,40 and 297.60, a close over 298 is friendly

March Copper:

Support is at 6570 and 6430

Resistance is at 6740 and 6790 to 6915 then 6970 beyond that 7055 offers resistance.

Jan. Platinum recommended position long at 356.7

Support is at 345 to 342. 5 where it should hold basis the close. Traders can go long at 342.5 risk a close under 333.

Resistance is at 352 and 355 then 360 and 364.5

March Silver long 487.5

On the DownSide: Support is at 493 and should hold and be bought With both Hands..day traders should buy at 494, risk 10 cents

On the Upside. Resistance is at 499 then 508.5 and 516 to 523 and 532.. Trade Accordingly.

The Exciting Energies

Feb. Crude recommended position long at 1118

Nearby Support is at 1118. Beneath that 1101 to 1096 should hold basis the close.. Under that support is at 1068 to 1058.

Resistance is at 1143 then 1153 and 1164 to 1169.A close over 1171 is friendly

Feb. Unleaded Gas recommended position long at

Support is at 3500 and 3475. Below that support is at 3387 to 3370.

Resistance is at 3625 and 3680. Beyond that 3743 offers resistance..

Beyond that resistance is at 3858 to 3867.

Feb. Heating Oil

Support is at 3267 and 3255, traders can buy at 3270 risk a close under 3190 for three days in a row. Below that support is at 3155 and 3102 to 3092.

Resistance is at 3402.. Beyond that resistance is at 3467 to 3493..

The Grande Grains

January Soybeans recommended position long at 575 1/2

Support is at 548 and 542 to 539 1/2

Resistance is at 553 1/2 and 556 1/4, A close over 554 augurs for a test of 560.

Jan Soybean Meal recommended position long at 150.50 and 144.50

Support is at 138 to 135 1/2 should hold.

Resistance is at 145.9 and the 149 region.

Jan. Soybean Oil

Support is at 2319 and 2277. Resistance is at 2377 and 2419 and 2430 then 2461 to 2469

March Corn. Recommended position long at 226 and 219

Support at 219 to 218 and it should hold. Resistance is at 224 and 225

March Wheat recommended position long 288 and 278

Support is at 276 then 269 1/2 and 264

Resistance is at 281 and 285.

The Satisfying Softs

March Cotton recommended position long at 6510 and 6214

Resistance is 6300. A close over 6320 is friendly and augurs for a test of 6410 and

most likely 6510. Support is at 6190 and 6113 to 6101.

March Sugar

Support is 767 to 763. Resistance is at 798 and 809 then 823,

March Coffee: Recommended position long at 114.50

On the downside, Early support is at 117.15 to 116.90/ 116.40. Day traders should buy at 117.15 for a quick bounce, risk 100 pts. Below that 114.70 should hold, basis the close. More support should be evident near the 113.60/ 113.00 region. Hearty Day traders can buy at 113.60, risk 150 pts.

On the Upside, Resistance should appear near 119.40 and 121.30 then 122.15. A close over 119.70 is friendly and augurs for a test of 123.20 to 123.80. Buy Dips.

March Cocoa

Support is at 1392 then 1383 to 1377. Resistance is at 1407 and 1421 then 1459

The Lively Livestock

Feb. Cattle

Resistance is at 5905 and 5970

Support is at 5865 then 5832 to 5827 below that 5757 should hold.

Feb. Hogs

Resistance is at 2947 and 2992 then 3047

Support is at 2870 and 2837 then 2752.

June Hogs recommended position long 4 at 4790.

Recommended Spread Long June Short Aug. at 625

April Hogs Recommended position long at 3682 and 3570

Resistance is at 3607 and 3642, a close over 3642 is friendly for a rally to 3742

Support is at 3547 and 3517 then 3427

From the Frying Pan into the Fire--

Feb. Bellies Feb. Bellies recommended position long 2 at 4435, 1 at 4550, 1 at 4207 Support should appear near 4212 below that 4182 offers good support below that 4042 to 4027 should contain a decline. Resistance is at 4332 and 4477 then 4512.

March Bellies recommended position long 4 at 4165

The Sensational Stock and Bond Markets

March Bonds recommended position long at 129-12

On The DownSide, nearby support is at 129-11 and 128-27 then 128-17 and 128-02 Traders should buy at 128-15 for a good bounce, risk a close under 128-07 for two days in a row.

On the Upside: Resistance is at 129-17 and 129-23, beyond that resistance is at 130-02 and 130-17. Day Traders can sell a rally at 130-17 for a turn lower, risk 15 pts Beyond that resistance is at 131-14.

Trade Accordingly.

March SP500 recommended position short at 1167.20, 1180.50,1183.70

On the DownSide, Nearby Support at 1193.20 and 1192, a close under 1192 augurs for a test of 1184.50 and 1180.50..

On the Upside, Resistance is at 1197.50 beyond that 1200.50 and 1203 to 1205

offer resistance.

Stay Tuned for SP500 Updates and Flashes.

A ship in Harbor is Safe.. But that's not what ships are built for.

Happy Trading

Bill

12/21/98 5:14:01 AM

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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.