FuturesCom Investment Publications
Morning Comments , Feb
12,1999
Dedicated to Excellence in Analysis of Futures
Markets
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains..
Livestock.. Softs
Friday. February 12 1999
5:34 AM
On the Frenzied Forex Front
March Japanese-Yen
Support
is at 8757 8705 and Below that buyers should appear near 8683 to 8668.Resistance is at 8777 then 8857 to 8871
March D-Mark recommended position long at 5805 and 5806
Support
is at 5729 to 5716 where traders can buy at 5729 and hold for higher prices.Nearby Resistance is at 5757 and 5792.
March Swiss recommended position long at 7074
Support
is near 7016 to 7003 and 6991 to 6971.Resistance is at 7074 to 7088 and 7117.
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 287.7 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 351Resistance is at 367 and 372.
Buy Dips...
March Silver recommended position long at 571 and 554
On the DownSide
: Support is at 554. and 549.5On the Upside. Resistance is at 565 and 577.5.
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 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 3416 and 3497.
March Heating Oil
Support
is at 3016 then 2945Resistance is at 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 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 and 2042 to 2030 where it should hold.Resistance is at 2080 to 2088 and 2094 a close over 2094 is friendly and augurs for a test of 2134
March Corn
Support
is at 217 1/2 and 214Resistance is at 222 1/2 a close over indicates a test of 227 and 229.
March Wheat
Support
at 262 and 259Resistance is at 268 1/4 and 274.
The Satisfying Softs
May Cotton
Resistance
should appear near 5855 and 5938.Support is at 5738 and 5717 then 5655 .
March Sugar recommended position long at 699
Support
is at 659 and 634 to 630Resistance is at 682 to 686 and 699 to 704
March Coffee
On the DownSide,
support is at 106.20 to 105.80 and 104.35 below that103.20 should hold.
On the Upside Resistance should appear at 106.80 and the 108.25 to 108.60 region
Trade Accordingly.
March Cocoa recommended position long at 1319 and 1314
Nearby Support
is at 1274 and 1268Resistance is at 1304 to 1319 and 1335
The Lively Livestock
April Cattle recommended position short at 6677 and 6767
Support
is at 6677 and 6657 then 6592Resistance
is at 6732 and 6807 to 6812 day traders can sell at 6807 for a turn lower..April Hogs recommended position short at 4422 and 4807
Resistance
is at 4677 and 4707. Beyond that Resistance is at 4782 which should cap a rally today Support is at 4582 and 4552 then 4512From the Frying Pan into the Fire--
March Bellies
Support should appear near 5497 and 5417 then 5457
Resistance is at 5632 and 5717 then 5797 and 5855 to 5880
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 1255 to 1253 and 1249.50. An extended trade under 1253 is negative and indicates a test of the 1238 region where good buyers should appear and hold the mkt. for a bit.
On the Upside, Resistance is at 1268 to 1271. beyond that a test of 1274 is likely.
Above that resistance is at 1285.50 and 1289 to 1290.80
Dow Jones Industrial Avg.
Resistance is near 9402 and 9429 to 9444 then 9526
A ship in Harbor is Safe.. But that's not what ships are built for.
Have a Safe and Happy Holiday
Happy trading
Bill
Fri. February 12, 1999
6:15 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.