FuturesCom Investment Publications
Morning Comments Friday  Feb 26,1999
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We will roll our analysis to June over the Weekend for the Forex, Bonds, SP500 ect.

Fri. Feb. 26 1999

5:00 AM

 

On the Frenzied Forex Front

March Japanese-Yen

Support is at 8314 to 8300 . Below that 8223 offers support.

Resistance is at 8391 to 8407 and 8425. Beyond that resistance is at 8460.

Trade Accordingly.

March D-Mark

Support should appear near 5634 and 5612. Below that Buyers should appear near 5584.

Resistance is at 5654. Beyond that resistance is at 5675 to 5680 Day traders can sell at 5680 risk 25 pts.

March Swiss

Support is at 6932 and 6887. Day traders can buy at 6887 for a bounce , risk 30 pts. Resistance is at 6982 An extended trade over 6982 augurs for a trade to the 7032 regions.

Trade Accordingly.

March British Pound

Support is near 1.5980 and 1.5890

Resistance is at 1.6068 and 1.6090 to 1.6150

March Canadian Dollar

Support should appear at 6590 and 6563.

Resistance is at 6613 to 6626 . A close over 6626 augurs for a test of 6670.

Precious Metals

April Gold

Support is at 287.6 then 286.5 and 285.4 where it should hold. A close under 285 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 293.3. A close over 293.3 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 6305 Below that 6105 should contain a decline today.

Resistance is at 6380.. A close over 6380 augurs for a test of 6445

April Platinum

Support is at 378.0 and 368 Day Traders can buy at 368 for a turn higher.. Below that support is at 364

Resistance is at 387.5. A close over 387.5 augurs for a test of 397.

May Silver

On the DownSide: Nearby Support is at 553 and 542. Day traders can buy at 553 for a turn higher.

On the Upside. Resistance is at 568.5 and 582. BW Traders should go long if a close over 572.5 occurs.

Buy Dips

The Exciting Energies

April Crude

Nearby Support is at 1261 and 1248 then 1238.

Resistance is at 1274 to 1288 and 1304 / 1319. Beyond that traders can go short at 1334, risk a close over 1347 for three days in a row.

Trade Accordingly

April Unleaded Gas

Support is at 3840 and 3755 to 3723 where it should hold.

Resistance is at 3923 Beyond that resistance is at 3992 and 4150.

April Heating Oil

Support is at 3228 and 3155.

Resistance is at 3375 and the 3410 to 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 458 1/2 and 450.

Resistance is at 467 3/4 A close over is 468 friendly and augurs for an

Eventual test of 491.

July Soybean Meal

Support is at 126.0 and 123. Under that 119.2 should contain the decline.

Resistance is at 127.5 and 131.5 beyond that resistance is near 133.6.

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 1839 and 1790

Resistance is at 1891 to 1901. A close over 1901 is friendly and indicates a test of the 2034 to 2042 region.

May Corn

Support is at 210 1/2 and 208.

Resistance is at 214 1/4 A close over 215 is friendly and augurs for a test of the 221 region

July Wheat

Support is at 254 3/4 and 252

Resistance is at 263 3/4 and 267

 

The Satisfying Softs

May Cotton

Resistance should appear near 5975. Beyond that resistance is at 6075.

Support is at 5875 and 5775.

May Sugar

Support is at 634 and 630. Below that 598 offers support and should hold.

Resistance is at 638 and 656 to 661. A close over 656 is friendly for a test of

678

May Coffee

On the DownSide, support is at 103.20 and 102.25 Below that 101.20 offers good support.

On the Upside, Resistance is at 104.40 to 104.75 and 105.80 an extended trade over 104.75 is friendly and augurs for another test of the 106.80 to 107.20 region...

Trade Accordingly.

May Cocoa

Support is at 1286 and 1274 to 1268. BW traders can buy at 1268 for a turn higher, risk a close under 1232 for three days in a row.

Resistance is at 1298 and the 1304 to 1319 region

The Lively Livestock

April Cattle

Support is at 6837 to 6827 below that 6762 should contain a decline today.

Resistance is at 6897 and 6912 then 6987.

April Hogs

Resistance is at 4487 Beyond that 4502 offers good resistance Day Traders can sell at 4502 for a turn lower , risk 50 pts.

Support is at 4400 and 4302. Below that support is at 4217. BW Traders can buy at 4227 and hold for higher prices.

From the Frying Pan into the Fire--

March. Bellies

Support should appear near 5027. Under that support should appear near the 4927 to 4857 region. Traders can buy at 4927 and hold Below that support is at 4857 and 4777

Resistance is at 5077 and 5087. Beyond that resistance at 5227 then 5327.

A close over 5087 is friendly

The Sensational Stock and Bond Markets

March Bonds

On The DownSide nearby support is at 120-01 and 119-27 to 119-21.

On the Upside: Resistance is at 121-01 and 121-21.

March SP500

On the DownSide

Support is at 1238.40 / 1238 to 1235 and the 1232 region. A close under 1232 augurs for a test of 1226.70 and 1224.20 then 1218 to 1217.00 A Slip under 1217 is negative and indicates a test of the 1203 to 1192 region where good buyers should appear and hold the mkt. for a bit.

On the Upside, Resistance is at 1249.50 and 1253 then 1257.20. Beyond that resistance is at 1268 to 1270.40/ 1271 and 1274...Stay tuned for flashes...

 

Dow Jones Industrial Avg.
Support
is at 9347 to 9316 and 9295.10 .. A slip or close under 9316 augurs for a test of 9231 and 9156 to 9140 below that support should appear near the 9060 to 9044 region.

Resistance is near 9429 to 9444. A close over 9445 is friendly and indicates a test of 9505 then 9526 to 9542 beyond that 9625 to 9642 offers good resistance.

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

Fri. Feb. 26 1999

6: 43 AM

Happy Trading

Bill

B W Recommended Open Pos.

Long April gold at 288.3

Long July Bean Oil at 2098 and 2043
Long May sugar at 656,

Long May beans at 493

Long May Copper 6335

Long May Cotton at 5680
Long March British Pounds at 1.6150
Long April Crude at 1248

Short April Cattle at 6802

Long March Canadian Dollar
Long March Bonds

Long July Wheat at 259 1/2

 

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