FuturesCom Investment Publications
Morning Comments (MC) May 5, 1999
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
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Tue May 4, 1999

7:35 PM

On the Frenzied Forex Front

June Japanese-Yen

Nearby Support is at 8314 to 8300 and should hold basis the close . A close under 8300 is negative and augurs for a test of 8223 to 8194 where traders can buy at 8223 and hold for higher prices.

Resistance is at 8343 and 8351 then 8391

June D-Mark

Support is at 5430 and 5417. A close under 5417 augurs for a test of 5356 to 5344.

Resistance is at 5460 to 5468 and 5491 to 5504.

Day traders can sell at 5462, risk 30 pts.

June Swiss

Support is at 6645 to 6637 and 6591 to 6577.

Resistance is at 6659 to 6673 then 6687 , day traders can sell at 6687 for a turn lower and risk 30 pts.

June British Pound

Nearby Support should appear near 1.6240 , day traders can buy at 1.6242, risk 80 pts. Under that support is at 1.6198 and 1.6150

Resistance is at 1.6378 and 1.6420 . The close over 1.6286 augurs for a test of 1.6420 and 1.6486. BW Traders can sell at 1.6420 for a turn lower, risk a close over 1.6486 for three days in a row.

June Canadian Dollar

Support should appear at 6870 and 6864 Below that support is at 6836 and 6809.

Resistance should appear at 6906 to 6913 and 6926

Stay tuned for Forex flashes

 

Precious Metals

Aug. Gold

Support is at 286 and 284

Resistance is at 290 and 292.40 then 295.

Trade accordingly

July Copper

Support is at 7244 and 7170. Day traders can buy at 7245, risk 100 pts. Under that support is at 7085.

Resistance is at 7280 and 7320 beyond that a test of 7480 is likely.

July Platinum

Support is at 348 and 341

Resistance is at 351 and 353 then 356.

July Silver

On the DownSide: Support is at 527.5, day traders can buy at 527.5 risk 9 cents. Below that support is at 522 and 508.

On the Upside. Resistance is at 534.5. and 537.5. A close over 535.5 augurs for a test of 546. Beyond that resistance is at 563.

The Exciting Energies

June Crude

Nearby Support is at 1878 and 1863. Day Traders can buy at 1863 for a turn higher risk 50 pts. Below that support is at 1853 to 1844 and 1822.

Nearby Resistance should appear near the 1891 and the 1902 to 1909 region. Beyond that sellers should appear near 1928 and 1941

 

June Unleaded Gas

Nearby Support is at 5575 and 5448. Under that 5350 to 5280 should hold.

Resistance is at 5618 then 5647 and 5662 then 5717.

June Heating Oil

Support is at 4516 and 4380 where it hold

Resistance is at 4582 and 4635, beyond that resistance is at 4695 to 4717.

 

The Grand Grains

July Soybeans

Support is at 484 3/4 to 483 1/2. Day traders can buy at 484 1/4 , risk 8 cents

Below that support is at 479 3/4 and 470.

Resistance is at 491 3/4 and 497 1/4 Beyond that resistance is at 504.

July Soybean Meal

Support is at 131.6 and 129.60 to 127.4 below that 125.5 and the 123.8 to 123.2
region should hold. BW Traders can buy at 127.40 and hold for higher prices. .

Resistance is at 133.90 Beyond that resistance is at 136.2.
BW Traders should go long if a close over 134.6 occurs.

July Soybean Oil

Support is at 1953 to 1946 and 1902.

Day traders can buy at 1953 , risk 30 pts. Below that 1909 to 1902 should hold.

Resistance is at 1984 and then 1996 to 2005 region..

July Corn

Support is at 221 3/4 and 220 then 216 1/2.

Resistance is at 224 3/4 and 226 1/4

.

July Wheat

Support is at 261 1/2 and 259 3/4 then 256..

Resistance is at 267 1/4 . A close over 268 is friendly.

BW Traders should go long if a close over 270 1/2 occurs.

 

The Satisfying Softs

July Cotton

On the Upside resistance is at 6073 then 6101 to 6113 and 6133...An extended trade over 6113 augurs for a test of 6165 to 6180

On the DownSide support is at 6023 Day traders can buy at 6023 and hold.

Below that support should appear near the 5975 to 5935 region...

Buy Dips.

July Sugar

Support should appear at 452 and the 446 region . Below that 433 should hold.

Resistance is at 468 and 471 to 476. Beyond that resistance is at 491.

July Coffee

On the DownSide, support is at 101.80 and 100.85. Below that support is at 100.50 to 100.00 and 99.70. Day traders scan buy at 100.85 and hold for higher prices...

On the Upside, Resistance is 102.20 and 103.20 to 103.80 then 104.70.. Beyond that resistance is at 105.80/ 106.00 and 106.90.

A close over 102.20 is friendly..

 

July Cocoa

Support is at 1023 and 1015 under that support is at 1005 to 1000 and 972 to 968.

Resistance is at 1028 to 1036. Beyond that resistance is at 1058 to 1068.

The Lively Livestock

June Cattle

Support is at 6247 and 6207 under that support is at 6172. BW Traders can buy at 6162 and hold for higher prices. Risk a close under 6092 for three days in row.

Resistance is at 6272. Above that sellers should appear near 6327 and 6352.

A close over 6272 is friendly and augurs for a test of 6377 to 6392.

June Hogs

Support is at 5792 to 5777 then 5757. Day Traders can buy at 5757 and risk 50 pts. Below that buyers should appear near 5717 and 5657

Resistance is at 5832 and 5857. Beyond that resistance is at 5957 and 5977.

Stay Tuned for Flashes the Pork Complex.

From the Frying Pan into the Fire--

July Bellies

Nearby Support is at 5807 then 5792 and 5777 Under that support is at 5627.

Day traders can guy at 5632 and hold for higher prices..

Resistance is at 5857 to 5882 beyond that resistance is at 5922. Day traders can sell at 5922 and hold for lower prices Above that resistance is at 6022 to 6037 and 6077.

Stay Tuned for Flashes the Pork Complex.

The Sensational Stock and Bond Markets

 

June Bonds

On The DownSide nearby support is at 119-18 and 119-03 then 118-30, below that good support should surface at 118-24.

On the Upside: Resistance is at 119-27 , day traders can sell an early rally at 119-27 risk 8 pts. Beyond that resistance is at 120-13 and the 120-24 region.

June SP 500
Support
is at 1340 / 1339.40 and 1334 Beneath that buyers should appear near 1329.20 and 1323.40 to 1322 . Day traders can buy at 1322 and hold... Below that support should appear near the 1310 to 1306 / 1304 region and hold..

Resistance is at 1346 to 1346.40 and 1354.70 to 1355.40 . Beyond that sellers should appear near 1361.50 and 1367.10.. Above that sellers should appear near 1370.50 and 1377

Stay tuned for Flashes

Dow Jones Industrial Avg.
Support
is at 10,820 to 10,804 Below that support is at 10,756.20 and 10,680

Resistance is near 10,912 and 10,960 then 11,010 beyond that good resistance is at 11,155 .

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

Happy Trading

Bill

May 4 1999 8:35 PM

B W Recommended Open Pos.
Long June Yen at 8407 and 8448

Long 2 July Platinum at 363

Long June Cattle at 6477,6422,6332

Long July Wheat at 295 3/4,304 and 265
Long June Swiss at 6782

Long July Beans at 480

Long 2 July Sugar at 517 and 1 at 437

Long July Cocoa at 1129
Long July Bean Oil at 1989

Short July Bellies at 5977
Long July Copper at 7255

MC Recommended Open Pos.

Long 2 June SP500 at 1358.0

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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.