FuturesCom
Investment Publications
Morning Comments (MC)
April 20, 1999
Dedicated to Excellence in Analysis of Futures
Markets
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains..
Livestock.. Softs
Courage in a Speculator is merely confidence to act on the decision of his mind.
Monday April 19, 1999
7:47 PM
On the Frenzied Forex Front
June Japanese-Yen
Nearby Support
is at 8543 and 8499 to 8484, Day traders should buy at 8499 for a turn higher, risk 40 pts. Under that support is at 8406 to 8391. Below that 8352 should hold.Resistance is at 8560 to 8589, a close over 8589 augurs for a test of resistance near the 8650 to 8668 region.
June D-Mark
Support
is at 5453 Below that support is at 5438 to 5418 where BW 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 5492 to 5504. A close over 5505 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 6655 then 6631Resistance is at 6707 and the 6725 to 6741 region. Beyond that 6755 should Cap a rally today,
June British Pound
Support
is near 1.6090 and 1.6046 then 1.5936Resistance is at 1.6150 and 1.6206.
June Canadian Dollar
Support
is at 6719 and 6690.Resistance should appear at 6740 and 6755 then 6790.
Stay tuned for Forex flashes
Precious Metals
Aug. Gold
Support
is at 287.60 and 285.50, below that 283.30 should hold.Resistance is at 288.9, a close over is friendly and indicates a likely test of 292.8
Trade accordingly
May Copper
Support
is at 6980 and 6955 to 6930. Day traders can buy at 6955 for a turn higher,under that support is at 6855 and 6730.
Resistance is at 7120 to 7160 then 7205 beyond that a test of 7320 to 7380 is likely.
July Platinum
Support
is at 363 and 359.Resistance is at 369 and 371.
Hold.
May Silver
On the DownSide
: Support is at 514 and 508 to 506 Day traders can buy at 508, risk 10 cents.On the Upside. Resistance is at 516.5 and 521. Beyond that a test of the 539.5 to 545 region is likely.
The Exciting Energies
June
CrudeNearby Support
is at 1748 to 1743. Day traders can buy at 1750 and hold for higher prices Below that support is at 1723 and 1696 to 1689...Nearby Resistance is at 1773 and 1793 to 1798. Beyond that a test of 1809 to 1828 is likely.
June Unleaded Gas
Nearby Support
is at 5344 and 5315 day traders can buy at 5315 and hold for higher prices. Under that support is at 5225.Resistance is at 5432 and 5515.
June Heating Oil
Support
is at 4362. Below that support is at 4315 Under that Buyers should appear at 4240 which should contain a decline.Resistance is at 4445 then 4511. A close over 4511 is friendly and augurs for a test of 4580.
The Grand Grains
July Soybeans
Support
is at 493 1\2 and 489 3/4. Day traders can buy at 493 3/4,risk 10 cents.
Resistance is at 500 1/2 and 503 3/4 beyond that sellers should appear near 507.
July Soybean Meal
Support
is at 135.60 and 133.3 below that 130.5 to 128 should hold.Resistance is at 138.4 and 141.0.
July Soybean Oil
Support
is at 1939 to 1933. Day traders can buy at 1933, risk 40 pts.Below that support is at 1909 to 1902.
Resistance is at 1968 and 1988 to 1996 then 2025 to 2034.
July Corn
Support
is at 224 and 222 3/4 to 220 1/4Resistance is at 228 and 230 1/4
July Wheat
Support
is at 260 1/2 and 257.Resistance is at 266 1/4 and 269 3/4
The Satisfying Softs
May Cotton
On the Upside resistance is at 5705 to 5715 and 5805.
On the DownSide support is at 5605 and 5577 to 5553.
July Sugar
Support
is at 471 to 468Resistance is at 483 and 489 a close over 490 is friendly and augurs for a test of 507 to 515.
May Coffee
On the DownSide,
support is at 101.50 and 100.50 to 100.00 under that 9910 to 9895 should contain a decline.On the Upside, Resistance is at 103.20 and the 103.60 to 103.95/ 104.10 region. A close over 104.10 is friendly and augurs for a test of 105.80
July Cocoa
Support
is at 1093 to 1085 and 1078 to 1068Resistance is at 1104 and 1128 to 1135.
The Lively Livestock
June Cattle
Support
is at 6287 and 6217. Day traders can buy at 6217 for a bounce, risk 70 pts.Resistance
is at 6312 and 6367. Beyond that a test of 6432 is likely.
June Hogs
Support
should appear near 5482 then 5422 and 5387Day traders can buy at 5387 and hold for higher prices.
Resistance is at 5537 and 5582.
From the Frying Pan into the Fire--
May Bellies
Support is at 5497 then 5457 and 5307
Nearby Resistance is at 5602 and 5642 then 5752 to 5792
Stay Tuned for Flashes the Pork Complex.
The Sensational Stock and Bond Markets
June Bonds
On The DownSide nearby support is at 121-13. Under that support is at 120-12
On the Upside: Resistance is at 122-09 to 122-12. Beyond that resistance is at
122-22 and 123-11.
June SP 500
Support is at 1294.50 and 1289.90 to 1289. A close under
1289 is negative and augurs for a test of the 1274 to 1268 region. Aggressive
Day traders can buy at 1289 for a bounce, stay tuned and put your own risk on
it..
Resistance should appear near the 1304 to 1305.90 to 1306.70 and 1310.
Day traders can sell near 1310 for a turn lower, put your own risk on it and stay tuned..
Beyond that sellers should appear near 1321.80 to 1322.70 and 1331.80 to 1334.
Stay tuned for Flashes
Dow Jones Industrial Avg.
Resistance is near 104,70 and the 10,580 region. Beyond that sellers should appear near 10,640 to 10,680 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 19 1999
8:47 PM
B W Recommended Open Pos.
Long June Swiss at 6782
Long July Silver
489.5 and 503.5
Long May Silver at 504
Long Aug. Gold 283.90
Long 2
July Platinum at 363
Long May Cotton at 6065 and 5965
Long June hogs
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 2 July Sugar at 517
Long July Cocoa at 1129
Long June
D-marks at 5492
Long June Unleaded Gas at 5320
Long June bonds at
121-03
Long May Coffee at 102.10
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