FuturesCom Investment Publications
Morning Comments , Feb 5 ,1999
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Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
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Fri. February 05, 1999
5:00 AM

On the Frenzied Forex Front

March Japanese-Yen

Support is at 8861 and 8823 then 8777 to 8762..

Resistance is at 8930 and 8964 then 9030 .

March D-Mark recommended position long at 5865, 5805 and 5806

Support is at 5792 to 5775 and 5736 to 5716 where traders can buy at 5729 and hold for higher prices.

Nearby Resistance is at 5836. A close over 5836 is friendly and would indicates a test of 5855 to 5880

Trade Accordingly.

March Swiss recommended position long at 7170 and 7074

Nearby Support is near 7087 and 7074 then 7034.

Early Resistance is at 7134. A close over 7134 is friendly and augurs for a test of 7170 to 7180.

March British Pound recommended position long at 1.6420

Support is at 1.6360 then 1.6284. Below that support is near 1.6150 and 1.6090.

Resistance is at 1.6482. Beyond that 1.6550 offers resistance,

March Canadian Dollar

Support should appear at 6684 and 6655

Resistance is at 6716 and 6726. Then 6742 to 6755.

Precious Metals

April Gold

Support is near 288.5 and 285, under that buyers should appear near 282 where it should hold. Resistance is at 292 to 293. A close over 293 is friendly and augurs for a test of 301. Traders should add/ go long if a close over 301 occurs.

March Copper:

Support is at 6565. Below that 6455 should contain a decline..

Resistance is at 6645 A close over 6645 is friendly and augurs for an eventual test of 6740 to 6755

April Platinum

Support should appear near 357 and 352.

Resistance is at 367 to 369.

March Silver

On the DownSide: Nearby Support is at 565. Below that support is at 555 and 548.

On the Upside. Resistance is at 580 then 592 and 604

The Exciting Energies

March Crude recommended position long at 1238 3 at 1189

Nearby Support is at 1192 to 1187 and 1174

Resistance is at 1206 then 1234 and 1255.

Trade Accordingly

March Unleaded Gas recommended position long at 3745

Support is at 3565 to 3555. Traders can buy at 3555 for a turn higher risk a close under 3480 for 2 days in row.

Early Resistance is at 3670 and 3770 then 3850 to 3865.

March Heating Oil recommended position long at 3245

Support is at 3115 and 3035.

Resistance is at 3205 and 3275. A close over 3275 is friendly and augurs for a test of 3335 then 3435.

Trade Accordingly.

The Grande Grains

March Soybeans recommended position long at 514, 513 1/4 and 3 at 509

Support is at 506 then 501 to 499 3/4. Resistance is at 511 and 514 beyond that another test of 520 is likely.

March Soybean Meal recommended position long at 132.9

Support is at 133.3 and 132.3. Below that support is at 129.5 to 128.5

Resistance is at 136.4 to 138.5. Beyond that resistance is at 143.

March Soybean Oil recommended position long at 2126

Support is at 2101 to 2086 where it should hold. Day traders can go long at 2087 for a turn higher, risk a trade under 2050.

Resistance is at 2123 and 2155. A close over 2131 is friendly.

March Corn recommended position short at 223.

Support is at 216 1/4 and 213 then 210 1/2. Traders can go long at 211 for a turn higher, risk a close under 204 for two days in a row.

Resistance is at 221 1/2. Beyond that resistance is at 226.

March Wheat recommended position long at 272 1/2

Support at 265 should bring out buyers below that support is at 261.

Resistance is at 272, A close over augurs for a test of 278.

The Satisfying Softs

March Cotton recommended position long at 5855

Resistance should appear near 5965 and 5995 then 6089.

Support is at 5895 and 5855, traders can buy at 5855 for a bounce, risk 90 pts.

March Sugar recommended position long at 699

Support is at 653 to 646.

Resistance is at 682 to 686 and 712 to 719

March Coffee: recommended position 112.15,103.75 and 103.55

On the DownSide, support is at 103.80 to 103.00. Aggressive day Traders should go long at 103.20 and hold for higher prices. Below that 102.25 and the 101.05 to 100.50 region should contain a break.

On the Upside Resistance should appear near the 104.50 and 105.80 to 106.40 then 107.40. An extended trade over or close over 106.45 augurs for an eventual thrust towards the 108.25 to 108.60 region and eventually 109.20 to 110.10 which appears likely to occur. Trade Accordingly.

March Cocoa recommended position long at 1319 and 1314

Nearby Support is at 1310 and 1298. Below that support is at 1274 to 1265.

Resistance is at 1319 to 1323 and 1334 to 1346.

The Lively Livestock

April Cattle recommended position short at 6677

Support is at 6717 and 6705 then 6642 where it should hold today...

A close under 6702 is negative. Resistance is at 6792 and 6847.

Feb. Hogs

Support is at 4222 and 4157. Below that support is at 4062.

Resistance is at 4257. Beyond that good sellers should appear near 4347

April Hogs recommended position short at 4422

Resistance is at 4657. Beyond that Resistance is at 4752 which should cap the rally.

Support is at 4552 and 4512 a close under 4512 is negative.

From the Frying Pan into the Fire--

Feb. Bellies

Support should appear near 5932 then 5812 and 5782.

Resistance is at 6082 and 6122.

Recommended Spread: 4 Long Feb. Bellies/ 4 Short March Bellies

at 75pt Feb. Under March HOLD

The Sensational Stock and Bond Markets

March Bonds recommended position long at 127-14, 126-04 and 125-04

On The DownSide nearby support is at 124-18 and 123-27 to the 123-18 region.

On the Upside: Resistance is at 125-07 and 125-18. Then 125-27 A close over

125-07 is friendly

March SP500 recommended position short at 1261 and 1255.30

On the DownSide

Support is at 1253 then 1249.80 under that a trade to the 1238 to 1235.80/ 1235 regions is likely.

On the Upside, Resistance is at 1268.70 and 1271 to 1274 then 1285.30 and 1289 to 1290.80. Above that good sellers should appear near 1300.50 to 1304. Traders Who Have Ice Water Running Through Their Veins can go short at 1304 and hold for lower prices, initially plan on risking a close over 1311.5 for three days in a row. Stay tuned for Flashes

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

Happy Trading

Bill

Fri. February 05, 1999

6:08 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.