FuturesCom Investment Publications
Morning Comments , Feb
11,1999
Dedicated to Excellence in Analysis of Futures
Markets
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains..
Livestock.. Softs
Courage in a Speculator is merely confidence to act on the decision of his mind
Thurs. February 11 1999
4:12 AM
On the Frenzied Forex Front
March Japanese-Yen
Support is at 8804 and 8762 to 8757. Day traders can buy at 8805, risk 60 pts.
Below that buyers should appear near 8683 to 8668.
Resistance is at 8857 to 8871 beyond that 8934 should cap a rally today.
March D-Mark recommended position long at 5805 and 5806
Support
is at 5792 and 5750 to 5746 below that. Traders can buy at 5729 and hold for higher prices. Nearby Resistance is at 5805. A close over 5805 is friendly and would indicates a test of 5855 and 5880 Traders should go long if a close over 5862 occurs.Trade Accordingly.
March Swiss recommended position long at 7074
Nearby Support
is near 7098 and to 7088 to 7074 below that 7058 should hold.Resistance is at 7143 to 7148 and 7170.
March British Pound recommended position long at 1.6420
Support
is at 1.6150 and 1.6090Resistance is at 1.6294 then 1.6362 and 1.6420.
March Canadian Dollar
Support
should appear at 6698 and 6679Resistance is at 6729 and 6741 to 6755 then 6779
Precious Metals
April Gold
Support
is at 287.2, day traders can buy at 287.5 risk $3.00, under that buyers should appear near 283 where it should hold. Resistance is at 292 to 293. A close over 293 is friendlyMarch Copper:
Support
is at 6595 Below that 6510 should contain a decline..Resistance is at 6670 and 6785..
Trade Accordingly.
April Platinum
Support
should appear near 360.5 and 357 then 351Day traders should buy at 360.5, risk $ 5.00
Resistance is at 364 and 370..
Buy Dips...
March Silver recommended position long at 571 and 554
On the DownSide
: Support is at 549. and 538On the Upside. Resistance is at 554 a close over 555 is friendly and augurs for a test of 577.5 and eventually 593.
The Exciting Energies
March Crude recommended position long at 1238 and 3 at 1189
Nearby Support
is at 1169 to 1162 then 1144. Traders can go long at 1142, risk a close under 1101 for three days in a row.Resistance is at 1177 a close over 1177 augurs for a test of 1192 to 1203 and 1212 to 1219. Beyond that a trade to 1240 is likely
Trade Accordingly
March Unleaded Gas
Support
is at 3328 and 3297Early Resistance is at 3397 to 3416 and 3497.
March Heating Oil
Support
is at 3016 then 2945Resistance is at 3090 then 3144 to 3162 beyond that 3190 offers resistance.
Trade Accordingly.
The Grande Grains
March Soybeans recommended position long at 514, 513 1/4 and 3 at 509
Support
is at 495 1/2 and 493 Resistance is at 501 to 503 a close over 500 1/2 is friendly and augurs for a test of 507 then 514 to 517...Trade accordingly.
March Soybean Meal recommended position long at 132.9
Support
is at 130.40 and 129.5 to 128.5Resistance is at 132.9 and 136.4 to 138.5.
March Soybean Oil recommended position long at 2126
Support
is at 2058 where it should hold. Day traders can go long at 2058 for a turn higher, risk a trade under 2030.Resistance is at 2069 and 2094 a close over 2094 is friendly and augurs for a
test of 2134
March Corn
Support
is at 219 1/2 and 217 1/2.Resistance is at 222 1/2 a close over indicates a test of 227 and 229.
March Wheat
Support
at 265 and 262Resistance is at 268 1/4 and 274.
The Satisfying Softs
May Cotton
Resistance
should appear near 5938 then 6040.Support is at 5907 and 5840 then 5805 below that 5738 should hold.
March Sugar recommended position long at 699
Support
is at 686 to 682 and 659Resistance is at 699 to 704 and 712
March Coffee: recommended position 112.15,103.75 and 103.55
On the DownSide,
support is at 103.20 and 101.90 to 101.30 then 100.50On the Upside Resistance should appear at 103. 80 and 104.25 to 104.45 a close over 104.45 augurs for a test of 105.80 to 106.80. An extended trade over or close over 106.30 augurs for an eventual thrust towards the 108.25 to 108.60 region
Trade Accordingly.
March Cocoa recommended position long at 1319 and 1314
Nearby Support
is at 1285 and 1274Resistance is at 1304 to 1319 and 1335
The Lively Livestock
April Cattle recommended position short at 6677 and 6767
Support
is at 6672 and 6657 where it should hold today.Resistance
is at 6732 and 6807 to 6817 day traders can sell at 6807 for a turn lower..April Hogs recommended position short at 4422 and 4807
Resistance
is at 4707. Beyond that Resistance is at 4782 which should cap a rally today... Support is at 4682, a close under 4682 is negative. and augurs for a test of 4582From the Frying Pan into the Fire--
March Bellies
Support should appear near 5697 and 5647 , below that buyers should surface at 5497 Resistance is at 5797 and 5855 to 5880 then 5942
The Sensational Stock and Bond Markets
March Bonds
On The DownSide nearby support is at 123-23 to 123-18.
Day traders can buy at 123-21 , risk 10 pts.
On the Upside: Resistance is at 124-23 to 124-25 , a close over 124-25 is friendly and augurs for a test of 125-17
March SP500
On the DownSide
Support is 1219.90 and the 1217.50 to 1216.30 region. An extended trade under 1219.90 is negative and indicates a test of the 1205.20 region where good buyers should appear and hold the mkt. for a bit. Day traders can Buy at 1203 put your own risk on it.. Below that 1192 should contain a break..
On the Upside, Resistance is at 1232 to 1233.40 and 1235 to 1237.20 /1238
day traders can sell at 1237.. put your own risk on it...beyond that sellers should appear near 1250 to 1253 and 1268 to 1270
Dow Jones Industrial Avg.
Resistance is near 9219 . A close over 9219 is friendly and
indicates a test of 9316 to 9340 beyond that resistance is at 9402 and 9429 to 9444.
A ship in Harbor is Safe.. But that's not what ships are built for.
Happy Trading
Bill
Thurs. February 11, 1999
5:15 AM
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