FuturesCom Investment Publications
Morning Comments (MC) May 26th, 1999
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Wed May 26, 1999

06:20 AM

On the Frenzied Forex Front

June Japanese-Yen

Nearby Support is near 8194 then 8134 and 8127 to 8119 and 8096

Resistance is at 8227. Beyond that resistance is at 8300 to 8314. Where good sellers should be evident.

Resistance is at 5430. Beyond that resistance is at 5460 to 5467 BW traders can sell at 5659 and risk a close over 5492 for three days in a row. ..

Support is at is at 5388 a close under augurs for a test of 5356 to 5344. BW Traders can buy at 5356 for a bounce, risk a close under the support near 5282 for three days in a row.

Resistance is at 6544. Beyond that resistance is at 6659 to 6673. And 6707 appear near 6707. Beyond that 6741 to 6755 should contain a rally.. BW Traders can sell at 6741 and Hold...

Support is at 6591 to 6577. Under that support is at 6543

Nearby support should appear near 1.5920 to 1.5878, A close under 1.5920 augurs for a test of 1.5760, BW traders can buy at 1.5762 and risk a close under 1.569 for three days in a row.

Resistance is at 1.6046 and 1.6090. Beyond that resistance is at 1.6150 and 1.6252 BW Traders can sell at 1.6284 and hold.

Support should appear at 6809 and 6782.

Resistance is at 6836 and 6872.

Support is at 271.6 Below that 265 should hold.

Resistance is at 272.6 and 274.4

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BW Traders should go long if a close over 275.80 occurs.

Trade accordingly

Support is at 6635 and 6595 to 6675, BW traders can buy at 6595 and risk a close under 6570 for three days in a row. Under that support is at 6510 to 6480 and 6430 to 6405

Resistance is at 6780. A close over 6755 augurs for a test of 6805 to 6830

BW Traders should go long if a close over 6755 occurs.. Beyond 6830 resistance is at 6905 to 6920

Support is at 358 and 356.5 to 355 Below that support is at 350

Resistance is at 360.5 A close over 360 is friendly and augurs for a test of the 369 to 371 region. Beyond that a test of 380 is not out of the question...if it holds...

BW Traders should go long if a close over 360 occurs. .

On the DownSide: support is at 499 to 497.5 then 492.5 to 491.5 where it should hold.

On the Upside. Resistance is at 510. To 511 and 514, a close over 514 augurs for a test of 522 to 525. A close over 525 is friendly and augurs for a test of 542

BW Traders should go long if a close over 525 occurs. A close over 543 augurs for a test of 558.

Support is at 1703 to 1696 and 1689 where good support remains. Below that support is at 1656 to 1643...then 1615 If perhaps a decline towards the 1615 to 1609 region..BW traders should consider it a buying chance and go long at 1615 and Hold...

Resistance is at 1738 and 1756, a close over 1738 augurs for a test of the 1774 to 1780 region. Beyond that sellers should appear near 1808 to 1822. BW Traders can go short at 1808 and risk a close over 1822 for three days in a row...

Support is at 4855 to 4845 and the 4800 to 4770 region..

Resistance should appear near 5035 then 5155 to 5180 and 5112 A close over 5212 is friendly and augurs for a test of 5259 to 5282 and eventually 5344 to 5356. Where good sellers should appear...

Support is at 4056 to 4046. below that 3940 to 3905 should hold..

BW Traders can buy at 3930 and hold for higher prices..

Resistance is at 4163 to 4183, a close over 4183 augurs for a test of 4230 and 4370 to 4381. Beyond that good sellers should appear at 4550. Where BW traders can sell at 4570 for a turn lower, risk a close over 4582 for three days in a row.

BW Traders should go long if a close over 4183 occurs..

Support is at 453 then 451 1/2 and 448 to 442 and should contain the decline.

Resistance is at 461, a close over augurs for a test of 467 to 469. Beyond that resistance is at 472 to 476...

Support is at 467 and 463 3/4 to 462 under that support is at 452

Resistance is at 475

Support is at 127.80 and 126.40

Resistance is at 132.4 then 133.60.

Resistance is at 1808 to 1822 beyond that resistance is at 1858 to 1865 and 1902 to 1909.

BW Traders should go long g if a close over 1774 occurs.

Support is at near 208 region and should hold for a bit.

Resistance is at 216..

Support is at 246 and 237 3/4

BW Traders can buy at 237 3/4 and hold..

Resistance is at 249 1/2 and 252. A close over 249 3/4 is friendly and augurs for a test of 261.

BW Traders should go long if a close over 255 1/2 occurs..

On the Upside resistance is at 5855 to 5880.

On the DownSide support is at 5729 to 5712 and 5655 to 5640.

Near by support is near the 471 to 468 region. Under that buyers should appear near 449 to 446.

Resistance should appear at 485 and 490 to 493, a close over 485 is friendly

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

On the DownSide, early support is at 119.20 Aggressive DAY Traders can buy at 119.20 and hold... below that support is at 118.05 and the 116.80 to 116.30 region. DAY Traders can buy at 116.80 for a bounce and hold for higher prices. Under that support is at 115.80 and 114.50. Below that the 113.60 to 113.00 region and the 110.10 to 109.60 region offer support, BW traders can buy at 110.10 and hold..

On the Upside, Resistance is at 120.30, beyond that good sellers should appear near 121.30 to 121.55. Above that resistance is at 123.20 to 123.80 and 124.50 to 125.50. Beyond that BW Traders can sell at 126.80 and hold. stay tuned..

Support is at 882 to 877 and 852 to 847

Resistance is at 907 to 912 and the 932 to 941 region.

Support is at 6187. Below that 6132 to 6112 should hold. .

Support is at 5357 then 5282 to 5257

Resistance should appear near the 5417 and 5457 , a close over 5427 is friendly

Support is at 5212 to 5212 Day Traders can buy at 5212for a bounce, and hold for higher prices Below that support is at 5142 to 5127 and 5122 under that 5077 should hold...

Nearby Resistance is at 5377 and 5462.and 5492 to 5507. beyond that sellers should appear near 5522 and 5537. Traders can sell at 5537 and hold for lower prices

On The DownSide support is at 118-18 and 118-08, a close under 118-08 augurs for a test of 117-22 and eventually 117-06, failure there augurs for a test of 116-21 where it should hold for a bit. BW Traders can buy at 116-21 for a turn higher, Risk a close under 116-12 for three days in a row.

On the Upside: Resistance is at 119-07 A close over 119-07 is friendly and augurs for a test of 120-07 to 120-17, BW traders can sell at 120-16 and hold for lower prices.. Beyond that resistance is at 121-04. to 121-06 and 122-04

June SP 500
On the DownSide, Early support is at 1289 where it should hold. BW Traders can buy at 1291 and hold for higher prices..

Resistance is at 1293.70 then 1294.70 and 1304, a close over 1304 is friendly and augurs for a test of 1310 then 1322 to 1325.30. Beyond that resistance is at 1334 and 1340

Resistance is at 10,580 and 10,620 and 10,680 beyond that sellers should appear near the 10,712 region.

Short June D-Marks at 5416 

Short June British Pound at 1.6046
Short June Swiss Franc at 6624 
Long August Gold at 272.30