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Morning Comments (MC)  May 11 1999
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Mon. May 10, 1999

09:11 PM

On the Frenzied Forex Front

June Japanese-Yen

Nearby Support is at 8314 to 8300. A close under 8300 is negative and augurs for a test of 8260 to 8240 then 8223 to 8194 where BW traders can buy at 8223 and hold for higher prices.

Resistance is at 8359 and 8372 then 8391 to 8406,a close over 8352 is friendly and augurs for an eventual touch of the 8484 to 8499 region.

Support is at 5531 to 5428. An Extended trade under augurs for a test of 5504, where day traders can buy for a bounce, risk 20 pts. A close under 5491 augurs for a test of 5430 to 5418

BW Traders should go short if a close under 5491 occurs.

Resistance is at 5553 to 5577/5582. A close over 5577 is friendly and augurs for an eventual test of 5640 to 5653

Support is at 6716 and 6707 to 6701. Below that support is at 6673 and the 6591 to 6577 region.

Resistance is at 6741 beyond that sellers should appear near the 6753 to 6765

region. Beyond that 6801 to 6816 offers good resistance.

Nearby Support should appear near 1.6150 to 1.6090, BW traders can buy at 1.6150 and hold for higher prices. Under that support is at 1.5936. Below that 1.5760 to 1.5690 should contain weakness.

Resistance is at 1.6286 then 1.6386 and 1.6420 then 1.6486. Beyond that sellers should appear near 1.6550 and 1.6720

Support should appear at 6851 then 6836 to 6820. BW Traders can buy at 6820 for a bounce, risk a close under 6809 for three days in a row. Below that support is at 6755 and 6741

Resistance should appear at 6872 and the 6909 to 6919 region. BW Traders can sell at 6920 a turn lower, risk a close over 6955 for three days in a row. Above that sellers should appear near 6990 to 7003.

Stay tuned for Forex flashes

Support is at 278.3. Under that buyers should appear near 275.4.

Resistance is at 280.2 and 281 3 then 282 to 282.90.

Trade accordingly

Support is at 7185 to 7165 and 7115. BW Traders can buy at 7105, risk a close

under 7075 for three days in a row.

Resistance is at 7245 to 7255, a close over 7255 augurs for a test of 7315 and 7345. A close over 7345 is friendly and augurs for a test of 7500 and the 7585 to 7605 region. BW Traders can sell at 7605 for a turn lower, risk a close over 7690 for three days in a row.

BW Traders should go long if a close over 7345 occurs.

Support is at 353.5 and 353, BW Traders can buy at 353 and hold for higher prices.. Below that support is at 349 to 346

Resistance is at 355.9 and 359. A close over 358.90 is friendly and augurs for an eventual test of 363 to 364 and the 366 to 368 region.

BW Traders should go long if a close over 358.90 occurs. .

On the DownSide: Support is at 541.5 and 538 to 535. BW Traders can buy at 535 and hold for higher prices.

On the Upside. Resistance is at 547.5 Beyond that resistance is at 548 and 554, a close over 554 augurs for a test of 580.

BW Traders should go long if a close over 543 occurs.

Support is at 1832, Day traders can buy at 1833, risk 30 pts. Below that support is at 1822 and 1808, aggressive BW traders can buy at 1785, risk a close under 1756 for three days in a row.

Resistance is at 1858 to 1869. Beyond that resistance is at 1882 and 1902 to 1909 then 1946 to 1953.

Nearby Support is at 5337 and 5282 and 5262. BW Traders can buy at 5265, risk a close under 5200 for three days in a row. Below that support near the 5065 to 5035 region should contain a decline in the near future.

Resistance is at 5457 to 5465 and 5492 to 5505.

Support is at 4318 to 4304 under that support is at 4249 to 4230 and 4205 to 4175.

Traders can buy at 4249 and hold..

Resistance is at 4415 then 4450. A close over 4405 is friendly and augurs for a test of 4580 and eventually 4695 to 4717.

BW Traders should go long if a close over 4405 occurs

Support is at 476 1/2 and 471 1/2 to 469. BW Traders can buy at 471 3/4, risk a close under 465 for three days in a row.

Resistance is at 481.5, A close over 481 1/2 is friendly and augurs for a test of 486.

Support is at 491 1/2 and 486 1/.2 to 485 BW Traders can buy at 485 and hold.

Resistance is at 494 3/4, a close over 493 is friendly. And augurs for a test of 503 1/3

BW Traders should go long if a close over 493 occurs.

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

Resistance is at 132.7 to 133.4 and 134.60. Beyond that resistance is at 137.7 to 138.3 and 141.

Resistance is at 1895 then 1909 to 1919, a close over 1895 is friendly and augurs for a test of 1919.

Support is at 219 3/4 then 217.

Resistance is at 222 3/4 beyond that sellers should appear near 227 to 229

Nearby Support is at 262 1/2. Under that buyers should appear near 259 1/2 and 256 to 254.

Resistance is at 266 then 268 1/2, A close over 268 is friendly and augurs for a test of 274 to 278. Beyond that sellers should appear near 280 and the 282 to 283 region.

BW Traders should go long if a close over 268 occurs.

On the Upside resistance is at 6035, a close over 6035 is friendly and augurs for a test of the 6092 and the 6101 to 6113. A close over 6113 is friendly and augurs for an eventual test of 6192 and the 6255 region.

BW Traders should go long if a close over 6113 occurs.

On the DownSide support is at 5999 and 5957 to 5945 then 5895 to 5877 and 5855.

Support is at 479, Day traders can buy at 479 for a bounce, risk 25 pts.

Below that support is at 471 to 468 and 462.

Resistance should appear near the 490 to 493 region. Beyond that sellers should

appear near 505 to 515 and 530.

On the DownSide, support is at 105.20, Day traders can buy at 105.10 and hold.. Below that support is at 104.70 and 104.30 to 103.8 and 103.20 to 102.75

BW Traders can buy at 102.65 and hold for higher prices.. Below that support at 101.80 and 101.25.

On the Upside, Resistance is at to 105.80 to 106.00 and 106.80 to 107.40

A close over 106.80 augurs for a test of 109.60 to 110.10. above that sellers should appear near 113.00 to 113.60 and 114.50

Support is at 972 to 968. Under that BW traders should buy at 941 and hold.

Resistance is at 987 a close over 987 is friendly and augurs for a test of 100 to 1005

Support is at 6035 to 6022 below that buyers should appear near

5957 to 5942 and 5882 to 5855.

Support is at 6007 to 5982. A close under 6007 is negative and augurs for a test of 5922 to 5882.

Resistance should appear near the 6082 and 6122 then 6165 to 6180 region.

BW Traders can sell at 6162 for a turn lower, Risk a close over 6272 for three days in a row.

Nearby Support is at 6112 and 6092. A close under 6092 augurs for an eventual test of 5942 and 5902.

Resistance is at 6162 to 6190 and 6202. Beyond that sellers should appear near 6242 to 6257 and 6337 to 6352. BW Traders should sell at 6237 and hold...

Stay Tuned for Flashes the Pork Complex.

On The DownSide nearby support is at 118-28 to 118-23, below that good support should surface at 118-11 and 117-28 to 117-26 then. BW Traders can buy at 117-12 and hold for higher prices

.

On the Upside: Resistance is at 119-10. Beyond that resistance is at 119-27.

BW traders can sell at 119-27, risk a close over 120-11 for three days in a row. Beyond that resistance is near 120-14 and the 120-27 region.

June SP 500
Support 1346 to 1345.20, below that support is at 1340 to 1339.90

Under that buyers should appear near the 1334 to 1331 region. BW Traders can Buy at 1334 and Hold for higher prices. Beneath that buyers should appear near 1329.10 and 1323.60 to 1322

Resistance is at 1355.90 to 1357.20,a close over 1355.90 augurs for a touch of 1361.50, beyond that resistance is near 1367.10. and 1371.90 then 1376.50 to 1377.

BW Traders should go long if a close over 1356 occurs.

Resistance is at 11,010 to 11,019 beyond that sellers should appear near 11,080 and the 11,155 to 11,171 region.