FuturesCom Investment
Publications
Morning
Comments (MC) March 24,
1999
Dedicated to Excellence in Analysis of Futures
Markets
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains..
Livestock.. Softs
Featuring Bi-Weekly Investment Outlooks, Special Reports, Morning Comments
Experienced Since 1979 & Serving
Professional and Individual Futures Traders World Wide since 1988
Tues. March 23, 1999
9:20 PM
On the Frenzied Forex Front
June Japanese-Yen
Support is at 8589 and 8560. then 8536 to 8513
Resistance is at 8629 to 8636 and the 8668 to 8683 region. Beyond that resistance is at 8722 and the 8762 to 8777 region.
June D-Mark
Support
is at 5594 and 5577 to 5568 then 5555Resistance is at 5619 then 5640 to 5655. Beyond that resistance is at 5710 to 5716/ 5729. BW Traders should sell at 5716, risk a close over 5729 for two days in a row..
June Swiss
Support
is at 6898 and 6886 . Day traders can buy at 6898 and hold for higher prices. Below that that 6871 offers good support and should contain a stop a decline.Resistance is at 6919. Beyond that resistance is at 6941 and 6953 then 6990 to 7003.
June British Pound
Support
is near 1.6368 and 1.6294 under that 1.6150 to 1.6090 should hold.Day traders can buy at 1.6338 and hold for higher prices
Resistance is at 1.6420 and 1.6486
June Canadian Dollar
Support
is at 6621 then 6591 and 6577. Under that 6560 offers good support.A close under augurs for a test of the 6509 to 6482 region. BW Traders can buy at 6510 for a turn higher risk a close under 6482 for three days in a row.
Resistance is at 6659 to 6677. Above that 6741 to 6755 should cap a rally. BW Traders can sell at 6741 for a turn lower, risk a close over 6755 for three days in a row.
Stay tuned for Forex flashes
Precious Metals
April Gold
Support
is at 283.30 and 282.5, day traders can buy at 283.3, risk $2.00Resistance is at 286.2 and 289.4
May Copper
Support
is at 6545 and 6515 then 6440 to 6405, below that 6210 should hold.Resistance is at 6605, close over 6605 is friendly and augurs for a test of 6800.
April Platinum
Support
is at 374 and 370, under that 358.5 should hold. BW traders should buy at 356.5 and hold for higher price.Resistance is at 380 and 389.
Be Long
May Silver
On the DownSide
: Support is at 507.5 and 506, day traders can buy at 508 and hold for higher prices. Below that support is at 499 and 492 BW Traders should buy at 492.5 and hold for higher prices. Under that 487 should contain a break.On the Upside. Resistance is at 515.5. A close over 515. is friendly and augurs for a test of 521.5. to 524.
Be Long.
The Exciting Energies
May Crude
Support
is at 1539 to 1529, Day traders can buy at 1539, risk 40 pts. Below that the 1525 and the 1477 region. Under that BW traders can buy at 1421, risk close under 1415 for three days in a row.Resistance is at 1575/ 1576 and 1598 to 1609.
May Unleaded Gas
Support
is at 4910 to 4895 day traders can buy at 4905 and hold for higher prices, risk 100 pts. Under that buyers should appear near 4845 and 4695Resistance is at 4999 and 5015 beyond that a test of 5105 to 5135 is likely.
May Heating Oil
Support
is at 4095. Day traders can buy at 4095 for a turn higher, risk 120 pts. Under that support is at 3995 and 3880 below that BW Traders can buy at 3745 and hold for higher prices.Resistance is a 4195 and 4325..
The Grande Grains
May Soybeans
Support
is at 490 1/2 and 485 3/4. Day traders can buy at 486 1/2 and hold for higher prices. Below that support is at 483.Resistance is at 497 and 504 1/2 then 513
Trade accordingly.
July Soybeans
Support
is at 499 to 497 and 492 day traders can buy at 493 1/2, risk 10 centsResistance is at 506 beyond that resistance is at 509 and 519
.
July Soybean Meal
Support
is at 136.1 and 135 then 133.8.Resistance is at 139.5 and 145
July Soybean Oil
Support
is at 1952 and 1946 day traders can buy at 1953 and hold for higher prices.Below that 1907 should hold.
Resistance is at 1982 and 2007
May Corn
Support
is at 226 1/2. Under that support is at 222.Resistance is at 231 1/2 and 236.
July Wheat
Support
is at 280, day traders can buy at 281 and hold for higher prices Under that 276 1/4 offers good support. BW traders can buy at 275 3/4, risk a close under 268 for three days in a row.Resistance is at 288 1/2 a close over 288 is friendly and augurs for a test of 292.
The Satisfying Softs
May Cotton
On the Upside resistance
6282 and 6308 then 6375.On the DownSide support is at 6182, day traders can buy at 6185 and hold for higher prices under that support is at 6110 then 6085
May Sugar
Support
is at 552 and 538 to 532 below that 526 should hold. .Resistance is at 563 and 579
May Coffee
On the DownSide,
support is at 100.50 to 99.70 and 9910 where it should hold.On the Upside, Resistance is at 101.25 and 102.20 then 103.20 a close over is friendly for a test of 104.25 to 104.70
May Cocoa
Support
is at 1169 and 1164 then 1121Resistance is at 1189 then 1192 to 1203 and 1221.
The Lively Livestock
April Cattle
Support
is at 6737 and 6717 then 6662 and 6622Resistance
is at 6772 and 6812 then 6887.April Hogs
Resistance
is at 4422 and 4442 then 4522 and 4587Support is at 4382 . Below that Buyers should appear near 4347 and 4322
Stay Tuned for flashes...
June Hogs
Support
is at 5562 then 5517 and 5462 under that 5392 should hold.Resistance is at 5592 and 5657 then 5672 to 5707.
From the Frying Pan into the Fire--
May Bellies
Support is at 5582 and 5552 below that support is at 5392 and 5327
Resistance is at 5627 and 5692 to 5702 and 5842.
The Sensational Stock and Bond Markets
June Bonds
On The DownSide
nearby support is at 120-26 and 120-19 under that BW Traders can buy at 120-14 for a turn higher, risk a close under at 119-27 for two days in a row. Below that 119-17 should hold.On the Upside: Resistance is at 121-19 Beyond that resistance is at 121-31 and 122-19 to 122-26.
June SP 500
Support is at 1271 and 1268 a close under 1268 augurs for
a test of 1255.40, day traders can buy at 1255.50 for a bounce and hold for
higher prices.. Put your own risk on it. Below that support is at 1253 a close
under 1253 is negative and augurs for a test of 1238 to 1232
Resistance is at 1273.60 to 1274 then 1287.40 to 1289 day traders can sell at 1287.40 and hold for lower prices. Beyond that 1392.50 offers good resistance as does 1304 and 1307 Above that 1310 should Cap a Rally.
Stay tuned for flashes..
Dow Jones Industrial Avg.
Resistance is near 9677 and 9707 to 9737 beyond that sellers should appear near 9787 then 9823 to 9837 and 9921.
A ship in Harbor is Safe.. But that's not what ships are built for.
3-23-1999, 10:30 PM
Happy Trading
Bill
B W Recommended Open Pos.
Long July Bean Oil at 2043
Long May sugar at 656, 586
Long May Cocoa at 1268
Long May Silver at 561.5, 535
Long June Yen at 8599
Long June gold at 292.8,288.8
Long Aug. gold at 288.30
Long may Cotton at 6142
Long may Coffee at 103.80,107.20, 101.25
Long April platinum at 371.7
short April cattle at 6742
short April hogs at 4377
MC Recommended Open Pos.
Long May Coffee at 106.00
Long 2 May Coffee at 102.00
Copyright@1999 FuturesCom Investment Publications
All Rights Reserved
FuturesCom is Not Responsible for Transmission Errors and Omissions.
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.