FuturesCom

Dedicated to Excellence in Analysis of Futures Markets Forex ...Precious Metals ...Energies....Grains...Softs...Livestock...Bonds..SP500 Serving Professional and Individual Futures Traders World Wide since 1988

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. SPREADSITIONS MAY NOT BE LESS RISKY THAN OUTRIGHT FUTURES POSITIONS. PAST RESULTS ARE NOT NECESSARIY

Morning Comments Monday Jan 5 1998

9:00 AM Sunday Jan 4th 1998

"Nothing gives one person so much advantage over another as to remain always cool and unruffled under all circumstances." - Thomas Jefferson-

On the Frenzied Forex Front

March J-Yen Recommended Position Long at 7751,7811 and 7690.
Nearby support is at near 7625 and 7601. Go long at 7601 for the 'Pull' stay tuned for a stop. Below that 7587 should hold. Early Resistance is near 7627 and 7669 with 7689 above that. Beyond that 7721 offers resistance

Trade Accordingly..

A close over 7675 is friendly.

March Swiss Franc Recommended Position Long at 6960
Early support should appear at 6856 , failure there indicates a decline to 6836 to 6809 and that region should stop any break. Resistance begins at 6876 and 6889 with 6906 to 6919 above that.

A close over 6889 is friendly.

Trade Accordingly.

March British: Recommended Position Long at 16550
Support is at 163.60 and 163.44
Resistance is near 164.20 . Beyond that sellers should appear near 165.50 and 167.20 .

Trade accordingly.

March D-Mark Recommended Position Long at 5614
Early support is 5553. Additionally a close under 5553 augurs for a test of 5527 or lower. If the D-Mark Fails look to Buy at 5496 for a turn higher, risk a close under 5465 for two days in a row. Nearby Resistance is at 5575. Beyond that 5627 to 5640 , a close over 5577 augurs for a pop to 5640.

Trade Accordingly

March Canadian Dollar Recommended Position Long at 7004
Support is near 7025 and 7011.
Resistance is at 7075, Sell short / exit longs at 7080 , risk a close over 7090 for three days in a row.

Trade Accordingly... Precious Metals

April Gold Recommended Position Long at 295

Support is near 290.8 and 286.5 Resistance is 296.2 and 306, a close over 306 is friendly for a rally back to 310. Buy Dips

March Copper Recommended Position Long at 7865
Nearby support is at 7695 below that 7620 offers support. Resistance is at 7775 Above that 7890 and 7930 should bring out a few sellers , however a close over 7840 is friendly for a rally back to the 8260 resistance region. Above that traders should sell at 8480 risk a close over 8510 for three days in a row.

April Platinum
Support is near 357. Go long at 355.9 risk a close under 349 for three days in a row. Resistance is near 367 , a close over 368.3 augurs for a test of 375, beyond that traders should sell at 382 , risk a close over 397 for two days in a row.

Trade Accordingly

March Silver Recommended Position Long at 590
Early support is at 592.5 below that 588. Resistance is near 596.5 and 599, beyond that 603.5 should trade.

Buy Dips The Exciting Energies

Feb. Crude

Is the Black Gold Bloody Enough ? I think so ...
Early support is at 1728 and 1705, below that day traders can buy at 1696 and risk 30 cents. Resistance should appear near 1753 and 1761. A close over 1761 augurs for a test of 1808.

Feb-Unleaded Gas
Early support is near 5290 Resistance is near 5370.
A close over 5410 is friendly.

Feb. Heating Oil Recommended position long at 4930
Support should appear near 4911 below that 4855 offers support. Resistance is near 4955 to 4985. A close over 4985 augurs for a test of 5235 and eventually 5340. Sell at 5340 risk a close over 5360 for two days in a row. The ‘Grande’ Grains

March Beans Recommended Position Long at 679 and 667
Early Resistance is near 668 to 669 1/2 and 671. A trade over 671 1/2 augurs for a test of 675 and the 682 / 683 region. Support is near 661 below that 655/ 652 should hold.

Trade Accordingly

March Soybean Meal
Support should appear at 194.00 and 190 Resistance is near 199 a close over 200 is friendly.

March Soybean Oil
Support is at 2495, Buy at 2487 , risk a close under 2460 for three days in a row. Below that a trade to 2419 /2400 is likely. Buy at 2401 , risk a close under 2370.
Resistance is near 2531 and 2556, beyond that sell at 2612 , risk 100 pts.

Trade Accordingly

March Corn Recommended Position Long ar 266
Early support is at 261 3/4 and 257. Resistance is near 263 3/4 and 266 1/4

A Close over 263 3/4 is friendly.

March Wheat
Support is at 328 and 322 Resistance is near 334 a close over 334 augurs for a test of 340.

Trade Accordingly
The Satisfying Softs

March Cotton Recommended Position Short at 6820
Support is at 6670 to 6663, below that 6615 to 6590 should hold , Cover and Buy at 6590 risk 100 pts. Resistance is at 6760 and 6810. Beyond that 6860 offers resistance.

March Sugar Recommended Position Short at 1238
Resistance is near 1227 and 1231 to 1238. Support is near 1217 to 1212, below that 1203 to 1192 should hold , buy at 1203 , risk a close under 1190 for three days in a row. If that region fails the 1175 to 1164 area should hold, buy at 1169 risk a close under 1162 for three days in a row.

March Coffee
Resistance is near 163.200 and 164.10 , beyond that 165.70 and 166.70 offers resistance. Above that, sell at 168.60 , risk a close over 170.60 for two days in a row. Beyond that, Sell at 178.00 risk a close over 181.00 for two days in a row.
Support is near 162.30 and 161.50 to 160.70 , under that 158.45 and 157.55 offer support, buy a 157.60 risk a close under 154.20. Below that 153.10 and 150.50 to 148.10 offer support.

Trade accordingly

Have your' Steel Cup' Ready, trading Coffee is not for widows and Orphans !

March Cocoa
Support is near 1615 and 1596. Buy at 1609 risk 45 pts. Resistance is near 1642 to 1655 then 1663 to 1678, beyond that 1714 offers resistance. Sell at 1696 for a turn lower, risk a close over 1731 for two days in a row. Beyond that a trade to 1750 is likely.

The Lively Livestock

Feb. Cattle Recommended Position Long at 6622
Support is near 6482 and 6432 Resistance is 6532 and 6572

A close over 6535 should stop the selling for a bit and put the mkt up to 6590 to 6650. If it Holds..

April Live Cattle Recommended position long at 7170,7150,7130 and 3 at 6845 (avg 6997)
Support is 6675 and 6650. Resistance is near 6755/ 6775. A close over 6755 is friendly.
Feb. Hogs Recommended Position Long at 5907 and 6012
Support is near 5717 and the 5712 / 5680 region. Resistance is near 5755 and 5790 to 5812. A close over 5755 augurs for a test of 5847. A close over 5812 indicates a test of 5880. Trade accordingly.

Feb. Bellies Recommended Position Long at 5622 and 3 at 5447

Support is near 5080 and the 5067 / 5055 region. Below that 4997 to 4972 and 4957. Below that 4857 offers support. Resistance is near 5107 and 5127 to 5137 with 5200 above that. A close over 5137 augurs for a test of 5257 and 5342. The Sensational Stock and Bond Markets

March Bonds
Support is at 121-04 and 120-26. Below that 119-26 offers support. Under that 119-17 should hold for the near term. Resistance is at 121-26 , sell at 121-21 risk a close over 122-12 for three days in a row.
In addition a close under 121-04 is negative, stay tuned.

March SP500 Recommended Position Short at 983.00
On the Downside, early support is 983.70 and 982.10 , under that 980.80 to 979.85 to 977.90 should trade. A extended trade under 977.90 indicates a test of 973.70. Which should trade the next time down. Below that 970.60 and 969.60 should bring out the buyers. However, a close under 969.70 is negative and augurs for a slip to 964.10. Below that 962.50 and 960.80 which are critical. Failure there indicates a test of 954.

On the Upside Resistance should appear near 985.70/ 985.80. Above that traders should sell at 986.20, stay tuned for the stop.
Beyond that 987.90 offers resistance. The 991.60 to .992.10 region should cap a rally. Traders should sell at 990.90 and hold.

Trade Accordingly and stay tuned for new trades

The Dow Jones Industrial Average (cash)
Early Support is 7954 and 7938, a extended trade under 7938 is unfriendly for a slip to 7922. Under that 7876/7864 must hold basis the close if not a dip to the 7849/ 7836 region is likely. Below that support should appear near 7809 to 7806 . A close under 7806 is negative and indicates a test of 7777.
Resistance is near the 7978 and 8007, above that , the 8029 to 8044 and 8067 region should cap this rally basis the close, if not a trade to 8107 8119 is likely.

A List of Elected Trades will be sent out later this evening.

This Newsletter is dedicated to risk, without Risk there is no reward.

Happy Trading

Bill

12:30 PM Sunday Jan 4th 1997
FuturesCom's Secured Payment Server FuturesCom's Price Special Reports FuturesCom.com