FuturesCom Investment Publications
Morning Comments
(MC) April 8, 1999
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Thur April 8, 1999
6:15 AM
On the Frenzied Forex Front
June Japanese-Yen
Support
is at 8314 to 8300. Below that 8290 should hold today. Day traders can buy at 8314, risk 60 pts. Below that 8223 to 8194 should contain a decline. A close under 8194 is negative and augurs for a test of 8119 to 8114 and 8044 where traders can buy and hold for higher prices.Resistance is at 8370 then 8391 to 8406. A close over 8406 augurs for a test of 8456 and 8470 with a touch of 8484 to 8499 likely. Beyond that resistance is at 8560 to 8589 and 8629.
June D-Mark
Support
should appear 5528 and the 5504 to 5492 region. Day traders can buy at 5528 and hold for higher prices. Below that support is at 5475 and the 5430 to 5418 region where BW traders can buy at 5425 for a bounce, risk a close under 5418.Resistance is at 5553 to 5577 then 5603. A close over 5578 is friendly and augurs for an eventual test of 5640 to 5653 beyond that resistance is at 5671 and 5682
June Swiss
Support
should appear near 6809 and 6782, day traders can buy at 6782 under that support is at 6755 to 6741.Resistance is at 6828 to 6836 , beyond that sellers should appear near the 6878 to 6888 and the 6906 to 6919 region.
June British Pound
Support
is near 1.5936 to 1.5914 and the 1.5760 to 1.5690 region.Resistance is at 1.6090 to 1.6150.
June Canadian Dollar
Support
should appear at 6659 then 6618 and 6591 to 6577Resistance should appear near the 6677 region. A close over 6679 augurs for a test of the 6741 to 6755 region, which 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
Aug. Gold
Support
is at 283.7 under that buyers should appear near 278Resistance is at 285.3 a close over 285.3 is friendly and augurs for a test of 288
Trade accordingly
May Copper
Support
is at 6395. Under that some support should appear near 6300 to 6275day traders can buy at 6300 and hold for higher prices. .
Resistance is at 6475, beyond that resistance is at 6535 and 6590 then 6675 to 6700
July Platinum
Support
is at 353 and 348.Resistance is at 363 and 372.
Hold.
May Silver
On the DownSide
: Support is at 495.5 and 489 Day traders can buy at 489 and hold for higher prices. Under that buyers should appear near 480 to 475. BW Traders should buy at 475.5 and hold for higher prices.On the Upside. Resistance is at 504 a close over 504 augurs for a test of 514.
A close over 514 indicates an eventual test of 529.
BW Traders should go long if a close over 514 occurs.
The Exciting Energies
May Crude
Support
is at 1592 and 1578, BW traders can buy at 1578, risk close under 1560 for three days in a row.Under that 1535 should hold.Nearby Resistance is at 1610 to 1617 and 1642 then 1655
May Unleaded Gas
Nearby Support
is at 5055 then 4995 to 4975. BW Traders can buy at 5005 and hold for higher prices. Under that buyers should appear near 4925 and 4785. BW Traders can buy at 4785 and hold for higher prices. Below that support is at 4505.Resistance is at 5175. A close over 5175 is friendly and augurs for a test of 5239 to 5259 and 5305. Beyond that resistance is at 5345 to 5356 and 5418.
May Heating Oil
Support
is at 4120 to 4110 which should contain a decline. A close under 4110 is negative and augurs for a test of 4037 and 3992 to 3982 then 3930. Below that support is at 3750.Resistance is at 4130 and 4245 then 4315 and 4350. A close over 4315 is friendly and augurs for a test of 4435 to 4445.
The Grande Grains
May Soybeans
Support
is at 476 and 471.Resistance is at 483 and 485 then 490.
July Soybeans
Support
is at 485. Below that good buyers should appear near 480. BW Traders can buy at 480 and hold.Resistance is at 491 beyond that resistance is at 499
July Soybean Meal
Support
is at 135.4 and 134.7 then 133.10Resistance is at 136.5 and 138.4
July Soybean Oil
Support
is at 1841 and 1822 to 1808 and 1796 where it should hold today.Resistance is at 1869 and the 1902 to 1909 region.
May Corn
Support
is at 214 3/4 and 209Resistance is at 219 and 224
July Wheat
Support
is at 281 1/2 and 280 then 279Resistance is at 285 to 286 and 291
The Satisfying Softs
May Cotton
On the Upside resistance
is near the 6101 to 6113 region. Beyond that resistance is at 6155 to 6165 and the 6180 region A close over 6165 augurs for a test of 6250On the DownSide support is at 6055 and 5965.
May Sugar
Support
is at 546 and 533.Resistance is at 559 and 569 to 573
May Coffee
On the DownSide,
support should appear near the 101.85 then 101.40 to 101.05 and 100.35 to 100.00 and 9935.On the Upside, Resistance is at 103.20 to 103.60 then 104.80 to 105.10 and 105.80 to 106..00
May Cocoa
Support
is at 1130 and 1120 to 1117Resistance is at 1144 and 1164 to 1169.
The Lively Livestock
April Cattle
Support
is at 6757 and 6727, under that support should appear at 6682.Resistance
is at 6782 then 6832 and 6877.April Hogs
Resistance
is at 4290 to 4302 and 4397Support is at 4192 to 4182 and 4102..
June Hogs
Support
is at 5372 and 5327 Day traders can buy at 5327 and hold for higher prices. Below that 5252 offers support.Resistance is at 5427 to 5447 , a close over 5447 is friendly and augurs for a test of 5527 to 5535..
From the Frying Pan into the Fire--
May Bellies
Support is at 5012 and 4977 to 4957. Day traders can buy at 4977 and hold for higher prices Below that 4827 to 4787 offers support. .
Resistance is at 5127 then 5172 and 5202 to 5212 and 5257 to 5277
Stay Tuned for Flashes the Pork Complex.
The Sensational Stock and Bond Markets
June Bonds
On The DownSide
nearby support is at 121-26 and 121-23 Below that support is at 121-03 and the 120-26 to 120-12 region.On the Upside: Resistance is at 122-12 and 122-26 then 123-04 BW Traders can sell at 123-04 for a turn lower, risk a close over 123-11 for three days in a row.
June SP 500
Support
A close under 1332.40 is negative and augurs for an eventual test of 1310
Resistance is at 1340.20 and 1346 , beyond that sellers should appear near 1347.70 and 1352.50
Stay tuned for Flashes
Dow Jones Industrial Avg.
Resistance is near 10,097 and 10,104 to 10,136 then 10151.50 and 10185 then 10320 to 10360.
A ship in Harbor is Safe.. But that's not what ships are built for.
Happy Trading
Bill
April 8 1999 7:38 AM
Premier Positions and performance figures are available at http://www.futurescom.com/premper99.htm
B W Recommended Open Pos.
Long May Sugar at 586 and 591
Long June Yen at 8599 and 8391
Long Aug. Gold at 288.30 and 2 at 283.90
Long May Cotton at 6142 and 6065
Long 2 July Platinum at 363
Long May Copper at 6270
Long 2 June hogs at 5525 and 1 at 5382
Long 2 Oct. Hogs at 5460
Short June SP500 at 1319.80
Long June Swiss at 6809
Long June British pound at 1.6150
Long July Wheat at 295 3/4 and 304
Long May Cocoa at 1193
Long July Beans at 509 1/4 and 494
Long May Beans at 486
Long July Bean oil at 1920
Long May Corn 227 1/2
Long May Unleaded Gas at 5402
MC Recommended Open Pos.
Short June SP500 at 1287.50
Long July hogs at 5680
Long June hogs at 5525
Long Oct. hogs at 5450
Copyright@1999 FuturesCom Investment Publications
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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.