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Morning Comments (MC)   Monday July 12, 1999
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Sunday July 11, 1999
10:04 AM 

On the Frenzied Forex Front

Sept. Japanese-Yen

Nearby Support is at 8223 and 8194. Day Traders can buy at 8223 and hold for higher prices. Under that support is at 8171 to 8164 and 8134 to 8119.

BW Traders can buy at 8164 for a bounce, risk a close under 8119 for

two days in a row.

Nearby Resistance is at 8262 to 8271 and 8300 to 8314. Beyond that sellers should appear near 8343 and 8352.

BW Traders can sell at 8307, risk a close over 8352 for three days in a row.

Beyond that resistance is at 8391 to 8406 and 8443.

Support should appear near the 5211 to 5200 region. BW Traders can buy at 5211 for a good turn higher and Hold for higher prices.

Resistance is at 5238 then 5271 to 5282. A close over 5282 is friendly and augurs for an eventual test of the 5344 to 5356 region... BW Traders should go long if a close over 5282 occurs.

Support is at 6375 and the 6350 to 6337 region.. BW Traders can buy at 6350 for a turn higher, risk a close under 6337 for three days in a row.

Resistance is at 6406 then 6417 to 6425..Day traders can sell an early rally at 6423, risk 30 pts. However a close over 6406 is friendly and augurs for an eventual test of resistance is at 6482 to 6509 where good sellers should appear.

Traders Accordingly

Support is at 15350 to 1.5270 should contain a decline today.

Resistance is at 1.5530 to 1.5556. day traders can sell at 1.5556 risk 70 pts.

Support is at 6782 and the 6755 to 6741 region. BW Traders can buy at 6755 for a turn higher, risk a close under 6741 for three days in a row.

Resistance is at 6809 then 6822. Day traders can sell at 6809 for a turn lower, risk 30 pts.. Beyond that resistance is at 6855 and 6871. A close over 6871 augurs for a test of the 6906 to 6919 region

BW Traders should go long if a close over 6871 occurs..

Nearby Support at 256.6 and 254.6. Day Traders can buy at 255.20 and risk $ 2.5

Resistance is at 259.20 and 260.8

Nearby Support is at 7735 to 7720 . Under that support should appear near 7605 and 7535 . Day traders can buy at 7735, risk 80 pts.

Nearby Resistance is at 7835 and 7865. Beyond that resistance should appear near

7935, a close over 7935 augurs for a test of 8005 and the 8045 region. Above that Sellers should appear near the 8115 to 8135 region. Trade Accordingly and stay tuned.

Day traders can sell at 8125 for a day turn lower, risk 100pts

Support is at 351.2 and 347.5 Below that support is at 344

Resistance is at 355.1 and 357.5 to 356.5

On the DownSide nearby support is at 522.5 Under that support is at 518.5 and 512.5 then 507. BW Traders should buy at 507 and risk a close under 497 for three days in a row. Under that support at 490 should hold..

On the Upside. Nearby resistance is at 529.5 and 533.5 to 535.5 A close 533.5 is friendly and augurs for an eventual test of the 546.5 to 552.region.

BW traders can go long if a close over 539 occurs.

Trade Accordingly and Stay tuned...

Nearby Support is at 1989 to 1982 and 1970. Below that 1953 should hold basis the close.. Below that BW Traders can buy at 1939 for a bounce risk a close under 1902 for two days in a row.

Resistance is at 1996 and 2019. Beyond that resistance is at 2034 to 2042 and 2056. However a close over 2042 is friendly and augurs for a test of the 2080 to 2088 region.

Nearby Support is at 5945. Day Traders can buy at 5945, stay tuned and hold for higher prices.. Below that support is at 5880 to 5855 and 5815 then 5782. Below that BW traders can buy at 5751 for a good bounce, risk a close under 5716 for two days in a row.

Resistance should appear at 6015 and 6023 to 6035 Beyond that sellers should appear near 6101 to 6113 and 6170 to 6190.. BW Traders can sell at 6113 for a turn lower, risk a close over 6190 for two days in a row. Beyond that sellers should appear near 6257 to 6270.

Support is at 5067 to 5036.. Day traders can buy at 5052 and hold for higher prices Under that support is at 4995 to 4972 and 4926 to 4915. Below that 4855 to 4845 offers support. BW traders can buy a dip at 4861 risk a close under 4815 for two days in a row

Resistance is at 5153 to 5170. Above that resistance is at he 5344 to 5356 and the 5418 to 5430 region BW Traders can sell at 5430 , risk a close over 5504 for three days in a row Trade Accordingly.

Nearby Resistance is at 412 to 413 3/4 beyond that resistance is at 416 1/21 and 418 3/4 to 420... A close over 412 is friendly...

Support is at 408 1/4 and 405 1/4 to 494 1.2. Day traders can buy at 408 1/4 and risk 5 cents. Below that 391 to 383 should stop the break...

Resistance is at 124.2 and 125.8

Support is at 121.30 and 119.80

Resistance is at 1617 and 1631 beyond that sellers should appear near

16.48 to 1658 and 1677

Resistance is at 198 1/4 and 200 1/4 to 201 1/2

Support is at 194 3/4 and 191.

Resistance is at 246 3/4 and 249.. Beyond that sellers should appear near 255

A close over 253 3/4 is friendly and augurs for a test of 261 and 263 where resistance should appear. BW Traders should go long if a close over 253 3/4 occurs..

Support is at 242 3/4 Under that buyers should appear near 2411/2 and the

239 to 237 region, which should contain the decline for a while.

BW traders can go long at 237 risk a close under 235 1/4 for three days in a row .

Trade accordingly

Support is at 5036 and 4997 then 4925.

Resistance is at 5125 to 5135 and 5200 to 5211

BW Traders should go long if a close over 5344 occurs..

Support is at 542 to 539 and 534 to 529

Resistance should appear at 559 to 563 and 577 to 582.

Day traders can sell at 559 , risk 30 pts.

On the Upside, Resistance is at 9825 to 9835 Beyond that resistance is at 9920 to 9935 and 9970. to 100.50 BW Traders can go long if a close over 100.25 occurs.

On the DownSide, early support is at 9720 aggressive day traders can buy at 9720 for a turn higher. Risk 100 pts.. Below that support is at 9640 to 9625 and 9545 to 9525 under that support is at 9465 Day traders can buy at 9465 and hold for higher prices.. Below that buyers should appear near 9345 and 9315

Support is at 972 to 968. Under that support is at 947.

Resistance is at 982 to 986 then 997 Beyond that sellers should appear near 1005 and 1018. A close over 987 is friendly and augurs for a test of the 1019 region

Support is at 6247 and 6187 under that BW traders can buy at 6165 for a bounce and risk a close under 6112 for three days in a row.

Resistance is at 4692 to 4717 and 4792.

Support should appear near the 3220 and 3102 to 3092.

Resistance is at 3442 then 3522 and 3652.

On The DownSide support is at 115-21 , aggressive day traders can buy at 115-22 risk only 10 pts Under that support is near 114-28 and 114-22 to 114-19. Day Traders can buy at 114-22 and hold for higher prices..

On the Upside Nearby Resistance is at 116-08 and 116-21. Day traders can sell at 116-22 and risk 15 pts. beyond that sellers should appear near 116-26 and 117-01

Trade Accordingly.

On the DownSide Nearby Support is at 1407.80 then 1404.60, a close under 1404.60 is negative. Below that support is at 1400.20 to 1399.00. A close under 1399 augurs for an eventual test of the 1385.60 to 1383.00 region. Below

that support is near the 1380.00 to 1377.00 region. Below that Buyers should appear at 1369.20 to 1367.50 and 1361.50 Where it should hold on a decline basis the close. BW Traders can buy at 1361.50 for a bounce, put your own risk on it and stay tuned for an exit.

Nearby Resistance is at 1415.00 and 1416.30 Beyond that resistance is at 1418.00

and 1419.60 to 1421. Day traders can sell at 1419.60 and hold for lower prices. Beyond that resistance is at 1424.80 Beyond that sellers should appear near the 1432.20 to 1437 region.. Beyond that resistance is at 1453.00 to 1459.00.

BW Traders can sell at 1456.00 and hold for lower prices.

Below that good support should appear near the 11,010 to 10,960 region. .

Where it should hold on a good decline.

Resistance is at 11,228 then 11,271 and 11,300 Beyond that resistance is at 11,330 and 11,360 which Should Cap the rally for a bit.. .