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.
Friday, Feb 6th 1998
5:30 AM
On the Frenzied Forex Front
March J-Yen
Nearby support is at 8054 and 7984. Resistance should appear at
8119 to 8136. Beyond that Sell Short at 8194 for a turn lower, risk
a close over 8209 for three days in a row.
Trade Accordingly
March Swiss Franc
Support should appear at 6919 to 6906. Resistance is near 6953
to 6960 then 7023 to 7029 is likely.
A close over 7088 augurs for a 'pop' to 7123 and most likely
the 7143 to 7170 region where resistance should appear. A close over
7170 indicates a pop to 7243. Sell there at 7242 for position, risk a close
over 7257 for two days in a
row
March British:
Support is at 163.62 and 16290 Resistance is near
164.88 , a close over 164.88 augurs for a test of 165.50.
March D-Mark
Early support is at 5577 and 5553 . Nearby Resistance is
at 5592 and 5605. A close over 5605 augurs for a pop
to 5640
Trade Accordingly
March Canadian Dollar
Support is near 6985 and 6946 Resistance is near 7028 and 7074
Trade Accordingly...
Precious and Industrial Metals
April Gold
Support is near 302.5 and 297. Resistance is 304.5 and
313.5. A close over 306.5 augurs for a rally
back to 313 Beyond that 317 is likely to be tested.
March Copper Recommended Long Position at 7865 and 7590 Traders
should protect their position today with a stop close under 7650.
Support is at 7670, below that 7590 should stop the decline
Resistance is at 7790 beyond that 8090. A close over 8225 indicates
a rally back to 8540 Above that traders should sell at 8850 risk
a close over 8870 for three days in a row.
April Platinum
Support is near 397.5 below that 392. Resistance
is 401 and 402.5 Beyond that 407 should trade. With a possible
‘touch’ of 413 or higher Traders should sell at 423 , risk
a close over 425 for three days in a row. Beyond that 440 and 460 should
trade.
Trade Accordingly
March Silver
Support is at 724 and 717. Resistance is near 757 and 773
A close under 693 is negative.
The Exciting Energies
March Crude Oil
Support is at 1647 and 1637.
Resistance should appear near 1662 and 1697.
March Unleaded Gas
Early support is near 5020 and 4920 Resistance is near
5065 and 5125
March Heating Oil
Support is near 4610 and 4560 Resistance is near 4810.
The ‘Grande’ Grains
March Beans
Early support is near 683 3/4. and 678 3/4 Below that 676 under
that go long at 669 for a bounce , risk 10 cents. Resistance is near
690 1/2. However the close over 687 is bullish for a trade to 692,
704 offer's resistance ,traders can sell at 703 for a quick turn lower,
risk a close over 711 1/2 for three days in a row and stay
tuned.
Trade Accordingly
March Soybean Meal
Support should appear at 194.1 below that Buy at 192.6
risk a close under 188 for three days in a row. Resistance is near
197.2 beyond that 199.1 then 206
March Soybean Oil
Early support is at 2577 and 2543. Resistance is near 2612
and 2643
March Corn Recommended position long at 273 3/4
Support is at 269 3/4 and it should hold
Resistance is near 274 1/4 A close over 276 3/4 augurs
for a ‘pop’ to 281
March Wheat
Support is at 337 3/4. Below that Traders should Buy March Wheat at
331 3/4 and hold . Resistance is near 341 beyond that
349 should trade.
Bullish , Buy weakness only.
Trade Accordingly
The Satisfying Softs
March Cotton
Support is at 6634 and 6585. Resistance is at 6680
and 6730
March Sugar Recommended Position Long at 1203,1169 and 1101
Support near 1085 and 1075 Resistance is 1099 and 1115
March Coffee
Early support is at 181.35 under that 180.60 and 178.55 and 174.00.
Below that Traders should buy at 164.20 , risk a close under 162.50 for
two days in a row. Beneath that a decline to 158.20 should be considered
a buying opportunity. Buy at 157.60. risk a close under 153.50 .
Beneath that 150.50 to 148.10 offer support. On the Upside, resistance
is near 183.80, a close over 185.65 augurs for a test of
195.
A close under 180.40 is negative
Don't' be surprised to 200 Coffee again.....
When Trading Coffee, one should keep a Steel ‘Cup’ handy.
Trade accordingly
March Cocoa
Early resistance is located at 1564 and 1595.
Support is near 1549 and 1523
The Lively Livestock
April Live Cattle Recommended position long at 7170,7150,7130 and
3 at 6845
Support is and 6577 and 6532.. Day traders can buy at 6577 , risk 50
pts.
Resistance is near 6610 then6652 and 6682.
A close over 6612 is friendly.
April Hogs Recommended Position , long at 5787
Resistance is at 5555 and 5640.. beyond that 5672. Support is
5540 and 5492.
A close over 5555 is friendly.
Recommended Spread Position, Long April Short June Hogs, 5 at 817
and
5 at 757 Hold
Feb. Bellies Recommended Position Long 1 at 4650
Early support is at 4977 and 4902. Resistance is near 5200 to 5212
and 5267. A close over 5212 is friendly , over 5272 is bullish
for a move to 5347 and 5412...
FuturesCom will add coverage in March on the New Bi-weekly this
weekend.
The Sensational Stock and Bond Markets
March Bonds
Near Term support is at 120-17 and 120-09 below that a
test of 119-16 should occur. Resistance is at 121-00
and 121-17 beyond that 122-17 offers a selling region.
A close under 119-00 is bad.
March SP500 Recommended Positions, short at 954.20, 958.40, 970.50 , 978.50,979.00 986.20, 1005.50 and 1007.20, 1010.20
On the Downside; Critical Support is near 1008.80 and 1007.40,
a close under 1007.50 indicates a test of 1003.70 /1003.10 beneath
1003.10 support should appear at 1002.10 then 1000.80 and 998.10.
A slip under 998.10 for an extended period augurs for a test of 993.70
to 992.10 then 987.40 and 985.80 beneath that 983.70 /30
to 982.10 offer support also. Below that 977.90 then 973.70
and 972.10 to 971.10 /970.50 should contain a break basis the
close. Below that grab the FuturesCom BI-Weekly for targets.
On the Upside Resistance should appear near 1011.20 beyond that
1013.60 with more at 1016.80 1018.80 and 1027.80
A close under 1007.20 is un-friendly to the market.
The Dow Jones Industrial Average)
Initially 8101 and 8090 must hold basis the close, if not
, a close under 8085 is negative. Beneath that 8044 to 8029 offer support
as does 7954.
Resistance is near 8119 to 8129 and 8172 / 8194 to 8213 / 8223
Beyond that 8314 offer resistance.
Happy Trading
Bill
Friday Feb 6th 1998
7:32 AM
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