FuturesCom Investment Publications
Morning Comments , Feb 23,1999
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Monday Feb. 22 1999

6:20 PM

On the Frenzied Forex Front

March Japanese-Yen

Support is at 8246 and 8163 to 8158 Below that 8134 to 8119 offers support.

Resistance is at 8303, day traders can sell at 8303 for a turn lower, risk 60 pts.

Beyond that resistance is at 8335. A close over augurs for a test of 8391 to 8406

Trade Accordingly.

March D-Mark

Support should appear near 5640 and 5627. Below that Buyers should appear near 5596 to 5574

Nearby Resistance is at 5661 and 5674. Day traders can sell at 5661 , risk 40 pts.

Beyond that resistance is at 5696 and 5716. .

March Swiss

Support is at 6908 and 6872 then 6850

Resistance is at 6922 to 6934. Aggressive day traders can sell at 6934 , risk 30 pts Beyond that resistance is at 6990 to 7003/ 7008.

March British Pound

Support is near 1.6214 and 1.6150 to 1.6112. Where BW Traders can buy at 1.6150, risk a close under 1.6090 for three days in a row.

Resistance is at 1.6298 and 1.6328 beyond that an eventual test of 1.6420 is likely.

BW Traders should go long if a close over 1.6358 occurs. Eventually we see a rally to 1.6550 ....be long.

 

March Canadian Dollar

Support should appear at 6673 and 6653 to 6647. Below that BW Traders can buy at 6636 , risk a close under .6590.

Resistance is at 6703 and 6743. A close over 6755 is friendly and augurs for a test of 6809 to 6836 then 6906. BW Traders should go long if a close over 6755 occurs.

 

Precious Metals

April Gold

Support is at 287.60 then 286.5 then 282 where it should hold. A close under 282 augurs for a test of 279 to 276. BW Traders can buy at 277.6 risk a close under 275.7 for three days in a row.

Resistance is at 289.7 and 291.9 A close over 289.9 augurs for a test of 296.8 and 299. where good resistance remains. Beyond that resistance is at 309.

BW Traders should go long if a close over 293.7 occurs.

May Copper

Support is at 6175 and 6115 Below that 6080 should contain the decline...

Resistance is at 6280 and 6345. However a close over 6280 augurs for a test of 6485 beyond that sellers should appear near 6685. BW Traders can sell at 6730, risk a close over 6755 for three days in a row.

April Platinum

Support is at 375.6 and 373.4 Below that support is at 370.8.

Resistance is at 381.4 and 385.7 then 390.5. .

May Silver

On the DownSide: Nearby Support is at 541. Day traders can buy at 541 for a bounce stay tuned... Below that support is at 531 and should a break....

On the Upside. Resistance is at 549.5 to 550.5 then 557. A close over 551 is friendly. is friendly and augurs for an eventual test of 572.5 BW Traders should go long if a close over 572.5 occurs.

Buy Dips

The Exciting Energies

April Crude

Nearby Support is at 1203 and 1192 Day Traders can Buy at 1203 , risk 30 pts.

Resistance is at 1231 to 1236 and 1249 to 1256....A close over 1217 is friendly and indicates a test of 1268 to 1274 then 1304 to 1319. Beyond that traders can go short at 1334, risk a close over 1347 for three days in a row.

BW Traders should go long if a close over 1217 occurs.

Trade Accordingly

April Unleaded Gas

Support is at 3714 to 3705 and 3680 where it should hold.

Early Resistance is at 3800 then 3855 Beyond that BW Traders can go short at 3870 for a turn lower, risk a close over 3930 for three days in a row.

Beyond that resistance is at 3992 and 4150.

April Heating Oil

Support is at 3108 then 3065 and 2987, below that BW Traders can buy at 2920, risk a close under 2870 for three days in a row. Below that 2775 offer support and should stop a decline.

Resistance is at 3187 and 3223. Beyond that resistance is at 3325 and the 3430

region... BW Traders can sell at 3430 for a turn lower ,risk a close over 3445 for three days in a row.

Trade Accordingly.

The Grande Grains

May Soybeans

Support at 477 1/2 to 472 1/2 should hold today day traders can Buy at 473 1/2, risk

5 cents. Resistance is at 484. A close over is 484.5 friendly and augurs for an

eventual test of 488 to 491.

July Soybean Meal

Support is at 130.4 and 129.5. Below that 127.5 and should hold.

BW Traders can buy at 127.5 risk a close under 123 for three days in a row.

Resistance is at 132.3 to 133.6 beyond that resistance is near 136.70 to 138.

BW Traders should go long if a close over 133.6 occurs. Risk a close under 130.4 for two days in a row.

July Soybean Oil

Support is at 1929 and 1901 then 1880 to 1865

Resistance is at 1965 and 1980. A close over 1982 is friendly.

May Corn

Support is at 219 and 217 to 216 BW Traders can go long at 216 for a turn higher, risk a close under 211 for two days in a row.

Resistance is at 222 1/2 and 226.

A close over 226 is friendly and augurs for a test of the 229 to 231 region. Traders can go short at 230 for a quick turn lower, risk a close over 232 3/4

July Wheat

Support is at 271 and 269 then 263

Resistance is at 275 1/2 and 281 3/4

BW Traders should go long if a close over 279 1/2 occurs.

Trade accordingly.

The Satisfying Softs

May Cotton

Resistance should appear near 5755 , an extended trade over augurs for a test of 5810 then 5855 . Beyond that 5935 offers resistance.

Support is at 5733 and 5680 to 5656. BW Traders can go long at 5680, risk a close under support at 5535 for three days in a row..

May Sugar

Support is at 628 and 620.. Below that 608 should hold.

Resistance is at 634 and 640 then 656 to 661. A close over 661 is friendly for a test of 704 to 712

Be long....

May Coffee

On the DownSide, support is at 103.20 and 102.15 to 101.90 and 100.30

Day traders can buy at 100.30 for a bounce only.

On the Upside, Resistance is at 103.60 then 104.40. and 105.30 to 105.80

Trade Accordingly.

May Cocoa

Support is at 1304 to 1297 then 1288 below that BW traders can buy at 1268 for a turn higher, risk a close under 1232 for three days in a row.

Resistance is at 1319 and 1338 to 1340 Beyond that BW Traders can sell at 1377, risk a close over 1383 for three days in a row.

The Lively Livestock

April Cattle

Support is at 6617 to 6602 below that 6532 should Hold.

Resistance is at 6682 then 6752 to 6767. Beyond that BW Traders can sell at 6802 for a turn lower. Risk a close over 6882 for two days in a row.

April Hogs

Resistance is at 4582 and 4642 then 4682. BW Traders can sell at 4692 for a turn lower, risk as close over 4727 for three days in a row. Above that resistance is at 4742.

Support is at 4547 a slip under augurs for a test of 4482.

From the Frying Pan into the Fire--

March. Bellies

Support should appear near 5217 and 5197. Below that 5137 offers support.

BW Traders can buy at 5137 and hold for higher prices. Under that support should appear near the 4927 to 4857 region. BW Traders can buy at 4927 and hold

Resistance is at 5347 and 5367 . Day traders can sell at 5367, risk 100 pts.

Beyond that resistance at 5517 should cap a rally...

 

The Sensational Stock and Bond Markets

March Bonds

On The DownSide nearby support is at 123-18 and 123-09 Below that support at 122-18 to 122-06 should hold...

On the Upside: Resistance is at 124-04 to 124-06 and 124-18

March SP500

On the DownSide

Support is at 1274 and 1271 to 1270 and 1268.A close under 1268 is negative..

On the Upside, Resistance is at 1276.50 and 1281.90 and 1289. Beyond that resistance is at 1292.50 and 1304.. BW 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. Beyond that 1319 should bring out sellers.

Stay tuned for Flashes

Dow Jones Industrial Avg.
Support
is at 9542 to 9526 and 9505 , a close under 9505 is negative...

Resistance is near 9585 beyond that 9625 to 9642 offers good resistance. A close over 9642 augurs for a test of 9707 to 9737 Above that, 9821 to 9837 should Cap a Rally for a bit.

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

Mon. Feb. 22 1999

7:17 PM

Happy Trading

Bill

BW Recommended Open Pos.

Long May Silver at 531

Long April Unleaded at 3670

Long May coffee at 106.80 and 103.80

Long July Bean Oil at 2098 and 2043 

Long May sugar at 656,

Long May beans at 493

Long May Copper 6335

MC Recommended Open Pos

Short March SP500 at 1268

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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.