FuturesCom Investment
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Morning Comments (MC) April 16,
1999
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Friday April 16, 1999
4:31 AM
On the Frenzied Forex Front
June Japanese-Yen
Nearby Support
is at 8499 to 8484 and 8445, day traders should buy at 8445 for a turn higher, under that support is at 8406 to 8391. Below that 8352 should hold.Resistance is at 8537 then 8560 to 8589 and 8629.
June D-Mark
Support
is at 5453 Below that support is at 5430 to 5418 where traders can buy at 5425 for a bounce, risk a close under 5418. Below that 5356 to 5344 should contain a decline in the near future..
Resistance is at 5485 to 5492 then 5505. A close over 5507 is friendly and augurs for an eventual test of 5553
BW Traders should go long if a close over 5577 occurs.
June Swiss
Support
is at 6673 and 6652 then 6632Resistance is at 6707 and the 6738 to 6753 region.
June British Pound
Support
is near 1.6046 then 1.5936Resistance is at 1.6090 and 1.6150.
June Canadian Dollar
Support
is at 6682. A close under 6655 is negative and augurs for a test of 6625. BW Traders can buy at 6625 for a bounce, risk a close under 6591. Below that support is at 6577 and 6550.Resistance should appear at 6732 to 6741 and 6755 then 6782 BW Traders can sell at 6741 for a turn lower, risk a close over 6755 for three days in a row. Above that sellers should appear near 6809 to 6836.
Stay tuned for Forex flashes
Precious Metals
Aug. Gold
Support
is at 285.60 and the 284 region.Resistance is at 288.10 and 292.6
Trade accordingly
May Copper
Support
is at 6715, and 6675 under that support is at 6620Resistance is at 6915 and 6990 to 7015 then 7110.
July Platinum
Support
is at 361 and 357 under that 353 should hold.Resistance is at 365.5 and 367.
Hold.
May Silver
On the DownSide
: Support is at 492.5 and 488. Under that support is at 483.5 .On the Upside. Resistance is at 502 a close over 502 is friendly and indicates a test of 510 then 518 and beyond.
BW Traders should go long if a close over 504 occurs.
The Exciting Energies
June
CrudeNearby Support
is at 1672, day traders can buy at 1672 below that support is at 1659 to 1644. Below that BW traders can Buy at 1615 and hold for higher prices.Nearby Resistance is at 1693 then 1709 Beyond that resistance is at 1719 and the 1731 to 1738 region.
June Unleaded Gas
Nearby Support
is at 5130 and 5100, day traders can buy at 5100 and hold for higher prices. Under that support is at 4995 to 4970. BW Traders can buy at 4975 and hold for higher prices. Under that buyers should appear near 4915 and 4785.Resistance is at 5255 and 5295. Beyond that resistance is at 5345 to 5356 and 5418. A close over 5430 is friendly and augurs for an eventual test of 5645 to 5653.
BW Traders should go long if a close over 5315 occurs.
June Heating Oil
Support is at 4285. Below that support is at 4265 Under that Buyers should appear at 4120 to 4110 and 4070 which should contain a decline.
Resistance is at 4325 , a close over 4325 augurs for a test of 4485. A close over 4485 is friendly and augurs for a test of 4580.
The Grand Grains
July Soybeans
Support
is at 496 to 495 day traders can buy at 496 and hold for higher prices. Below that support is at 488 to 485 and 474.Resistance is at 502 1/4 beyond that sellers should appear near 505 1/2 and 507 then 512 to 515.
July Soybean Meal
Support
is at 135.3 and 134.60 below that 130.5 to 128 should hold.Resistance is at 138.4 then 141.
July Soybean Oil
Support
is at 1961 to 1946, day traders can buy at 1953 under that support is at 1909 to 1902 and 1898,Resistance is at 1988 to 1996 and 2034
July Corn
Support
is at 222 to 220Resistance is at 228 and 230
July Wheat
Support
is at 269 1/4 under that 263 1/4 should hold. .Day traders can buy at 269 1/4 risk 8 cents.
Resistance is at 274 3/4 and 277 to 280
BW Traders should go long if a close over 279 occurs.
The Satisfying Softs
May Cotton
On the Upside resistance
is at 5995 and 6085 to 6095 beyond that a testof 6145 is likely.
On the DownSide support is at 5890 to 5875 and 5855 under that 5790 to 5755 should hold.
July Sugar
Support
is at 471 to 468 and 449Resistance is at 483 and 490 to 493 then 511
May Coffee
On the DownSide,
support is at 9790 then 9735 , under that support is at96.20 and 9465. Below that 9170 to 9155 should hold.
On the Upside, Resistance is at 9870 and 9965 then 100.00 and 101.20.
A close over 100.50 augurs for a test of 101.90 and eventually 103.20 to 103.60
BW Traders should go long if a close over 100.50 occurs.
July Cocoa
Support
is at 1096 then 1078 to 1068Resistance is at 1108 to 1115 and 1128.
The Lively Livestock
June Cattle
Support
is at 6297 and 6282 and 6212.Resistance
is at 6337 and 6357 then 6432 .June Hogs
Support
should appear near 5342 and 5267 to 5257 then 5167Day traders can buy at 5267 and hold for higher prices.
Resistance is at 5367 and 5417 to 5432 then 5467 .
From the Frying Pan into the Fire--
May Bellies
Support is at 5212 then 5147 and 5117 Under that support is at 5067 to 5052 and 4997. BW Traders can buy at 4982 and hold for higher prices
Nearby Resistance is at 5297 then 5342 to 5357. And 5447 beyond that 5512 offers good resistance
Stay Tuned for Flashes the Pork Complex.
The Sensational Stock and Bond Markets
June Bonds
On The DownSide nearby support is at 121-21 and 121-16 then 121-09 to 121-03 region where BW traders can buy at 121-03 for a turn higher, risk a close under 120-27 for three days in a row.
On the Upside: Resistance is at 122-09 and 122-17 Beyond that resistance is at 123-09 and 123-14.
June SP 500
Support is at 1322 to 1321.60 a close under 1321 augurs
for a test of
1310 and 1307 to 1304.
Resistance should appear near the 1334 then 1337.50 and 1339.30 to 1340.
Beyond that 1346 and 1353.60 offer resistance. Above that resistance is near the 1361.50 region.
Stay tuned for Flashes
Dow Jones Industrial Avg.
Resistance is near the 10477 to 10510 and 10,580 region which should cap a rally.
A ship in Harbor is Safe.. But that's not what ships are built for.
Happy Trading
Bill
April 16 1999
6:02 AM
B W Recommended Open Pos.
Long June Swiss at 6782
Long May Copper at 6365 and 6555
Long July
Silver 489.5 and 503.5
Long Aug. Gold 283.90
Long 2 July Platinum at 363
Long May Cotton at 6065 and 5965
Long June hogs 5382 and 5442
Long June Cattle at 6477 and 6422
Long July Wheat at 295 3/4 and 304
Long July Beans at 480
Long May Corn 227 1/2
Long May Coffee at 105.10
Long June Heating Oil at 4240
Long 2 July Sugar at 517
Long July Cocoa at 1129
Long June D-marks at 5492
MC Recommended Open Pos.
Short June SP500 at 1332.20
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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.