FuturesCom Investment Publications
Morning Comments (MC) June 01, 1999
Bonds.. SP500..
Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
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June 01 1999
05:25 AM
 

On the Frenzied Forex Front

June Japanese-Yen

Nearby Support is at 8261 to 8255, under that good buyers should appear near the 8223 to 8194 region.

Resistance is at 8300 to 8314. A close over 8314 is friendly and augurs for a test of 8391 to 8406 and 8428. BW Traders can sell at 8428 for a turn lower. Risk a close over 8454 for three days in a row.

.

June D-Mark

Resistance is at 5346 to 5362 and 5418 to 5430.

Support is at 5312 then near 5259 and the 5211 to 5200 region...where it should hold for a bit...

June Swiss

Resistance is at 6568 and 6577 to 6591. Beyond that resistance is at 6621 and 6636.

Support is at 6536 and 6529 to 6509.. BW Traders can buy at 6509, risk a close under 6482 for three days in a row...Under that 6430 to 6417 should hold...

June British Pound

Nearby support should appear near 1.5968 and 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 1.6048 and 1.6090. Beyond that resistance is at 1.6150 and 1.6252 BW Traders can sell at 1.6284 and hold.

June Canadian Dollar

Support should appear at 6755 and 6741.

BW Traders can buy at 6755 and hold for higher prices.

Resistance is at 6789 and 6801 to 6809 then 6836

Stay tuned for Forex flashes.

 

Precious Metals

August Gold

Support is at 266.1 and 265

Resistance is at 269 and 272.50

Trade accordingly

July Copper

Support is at 6245 and 6205 to 6180

Resistance is at 6390 to 6405 and 6485

July Platinum

Support is at 358 to 356.5 and 353

Resistance is at 361.5 to 363.0

July Silver

On the DownSide: support is at 487.5 to 486.5 and 484.

On the Upside. Resistance is at 495 and 506.

The Exciting Energies

July Crude

Support is at 1662 and 1656 to 1643 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 1687 to 16.94 and 1712.

July Unleaded Gas

Support is at 4815 to 4795 and 4717 to 4695

Resistance 4855 and 4915. Beyond that good sellers should appear near 4955

and 4980 to 4995

July Heating Oil

Support is at 3940 to 3905 under that 3880 to 3855 and 3810 offer support

Resistance is at 4010 to 4028

 

The Grand Grains

July Beans

Support is at 455 3/4 then 451 1/2 and 448 to 442 and should contain the decline.

Resistance is at 460 and 467 to 469.

November Beans

Support is at 468 1/4 and 465 to 463 1/2

Resistance is at 473 and 477

July Soybean Meal

Support is at 128.5 and 127.80 to 126.90

Resistance is at 130.40 to 131.0.


July Soybean Oil

Support is at 1742 and 1738 to 1731.

Resistance is at 1774 to 1780 beyond that resistance is at 1808 and 1830.

July Corn

Support is at near 214 3/4 and 213 1/2.

Resistance is at 218 and 219 1/2

July Wheat

Support is at 248 to 246 1/4 and 237 3/4 BW Traders can buy at 237 3/4 and hold..

Resistance is at 249 3/4 and 253 to 254.

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

The Satisfying Softs

July Cotton

On the Upside resistance is at 5792 to 5805 and 5855 beyond that resistance

is at 5875 to 5895

On the DownSide support is at 5729 to 5716 and 5695 to 5681

July Sugar

Near by support is near the 493 to 490 region. Under that buyers should appear near 484 and 471 to 468.

Resistance should appear at 507 to 515 and 522

July the 'Monster' Coffee

On the DownSide, early support is at 120.30 to 119.65 and 119.20

Aggressive Day traders can buy at 119.70 and hold.. Put your own risk on it and stay tuned.. Under that support is at 118.05 to 117.85 and 116.80 to 116.25.

On the Upside, Resistance is at 121.75 to 122.15 and 123.20 to 123.80 beyond that resistance is at 124.50 to 124.65 and 125.20 Above that resistance is at 126.80 to 127.40 and 130.40 to 131.10.

July Cocoa

Support is at 852 to 847

Resistance is at 883 and 894 then 907 to 912.

The Lively Livestock

August Cattle

Support is at 6242 and 6212, below that 6152 to 6137 offers support.

Resistance is at 6287 and 6302 beyond that sellers should appear near 6362.

June Hogs

Support is at 5277 to 5255 then 5212 and 5177

Resistance should appear near 5322 and the 5342 to 5357 region.

Beyond that sellers should appear near 5377, a close over is friendly and augurs for a test of 5460 to 5477.

Stay Tuned for Flashes in the Pork Complex.

From the Frying Pan into the Fire--

July Bellies

Support is at 5282 and 5252 to 5242 Below that support is at 5202.

Nearby Resistance is at 5392 to 5417 beyond that sellers should appear near 5492 to 5502 and 5537 to 5542. BW Traders can sell at 5537 and hold for lower prices

Stay Tuned for Flashes the Pork Complex.

The Sensational Stock and Bond Markets

June Bonds

On The DownSide support is at 117-13 and 117-11, failure there augurs for a test of 116-21 and 116-11 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 118-09 and 118-11 A close over 118-12 is friendly and augurs for a test of 119-09 and 120-07 to 120-17

June SP 500
On the DownSide, Early support
 is at 1293.80 and 1289 to 1286.20 below that

support is at 1281 and 1274 and 1268

Resistance is at 1304 to 1307 and 1308.20. Above that resistance is at 1310, a close over 1310 is friendly and augurs for a test of 1314.50 and eventually 1322 to 1323.20.

Stay tuned for Flashes ...

Dow Jones Industrial Avg.
Support
is at 10,530 and 10,501. Below that support is at 10,470 and 10,418 then 10360 and 10,320.

Resistance is at 10,580, a close over 10,580 augurs for a test of 10,680 and 10,756.

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

Happy Trading

Bill

June 01 1999 6.54 AM

B W Recommended Open Pos.

Long 2 July Cotton avg. 5843

Long Nov. Beans at 485

Long July Bean Oil at 1784

Long 2 July Silver avg. 532.5

Long 2 June Hogs avg. 5650
Long Aug. short Nov. Beans at 8 1/2 (2)
Long June Short July Hogs at 200 (2)

Long June Hogs short Aug. Hogs at 270 (2)

Long 2 July Unleaded Gas at 5085

Long July Crude at 1731

Long June SP500 at 1325.20 and 1291

Long July Sugar at 482 and 500

Long August Gold at 272.30

Long June Canadian Dollar at 6829
Long July Heat at 3939 (last Eve)

Long Dec. Corn at 230 1/2 (last Eve)

MC Recommended Open Pos.

Long 2 June SP500 at avg. 1344.60

Long Aug. short Nov. Beans at 8 1/2 (2)
Long June Short July Hogs at 200 (2)

Long June Hogs short Aug. Hogs at 270 (2)

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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.