FuturesCom Investment Publications
Morning Comments (MC)  Weduesday July 21, 1999
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
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Courage in a Speculator is merely confidence to act on the decision of his mind

Tuesday July 20, 1999

6:34 PM

On the Frenzied Forex Front

Sept. Japanese-Yen

Nearby Support is at 8418 to 8406. Day traders can buy at 8406 and risk 50 pts. Below that support is at 8391 and 8352

Nearby Resistance is at 8484 to 8491, Day traders can sell at 8484 and risk 60 pts. Beyond that resistance is at 8560 to 8589.

Sept. D-Mark

Support should appear near 5319 and 5289 to 5270 and 5259 Day Traders can buy at 5282 for a bounce, risk 35 pts Below that support is at 5259 and 5235.

Resistance should appear near the 5344 to 5356 region and 5369 to 5372. A close over 5356 is friendly and indicates a test of the 5418 to 5430 region. Beyond that resistance is at 5492 to 5504.

Sept. Swiss

Nearby Support is at 6515 to 6509 Day Traders can buy at 6515 and hold for higher prices Below that support is at 6482 then 6465 and 6431.

Nearby Resistance is at 6543 to 6557 and 6564. Above that resistance is at 6591 and 6614. BW Traders can sell at 6591 for a turn lower, risk a close over 6627 for two days in a row. Above that sellers should cap a rally near the 6656 to 6673 region.

Sept. British Pound

Support should appear near 1.5690 and 1.5656 then 1.5626

Resistance is at 1.5726 and 1.5760 then 1.5886..

Sept. Canadian Dollar

Support should appear at 6707. Below that support should appear near the 6683 and 6673.

Resistance is at 6720 to 6724 and 6741 then 6755 and 6770 then 6782.. A close over 6741 augurs for a test of 6782 and eventually 6809. Beyond that resistance is at 6820 and 6836. A close over 6836 augurs for a test of 6906 to 6919.

BW Traders should go long if a close over 6755 occurs..

Stay tuned for Forex flashes.

 

Precious Metals

August Gold

Nearby Support is at 252.9 and 251.9 to 251.1 BW Traders can buy at 251.90 and hold for higher prices... . Below that support is at 247 to 246 and 242.

Resistance is at 255.2 and 256.8, a close over 256.80 is friendly and augurs or a test of 261.20 to 262. and eventually 265.

BW Traders should go long if a close over 255.20 occurs.

Sept. Copper

Nearby Support is at 7565 to 7545. below that buyers should appear near 7355 to 7320. BW Traders can buy at 7355, risk a close under 7315 for three days in a row. Below that 7245 and 7170 to 7140 should contain a decline for a bit

Nearby Resistance is at 7765 and 7835 to 7865. Beyond that a test of 7920 and 7940 to 7955 is likely. BW Traders can sell at 7940 , risk a close over 7965 for three days in a row. Beyond that resistance should appear near the 8025 to 8045 region. Above that Sellers should appear near 8085 and 8120 to 8155 region.

Trade Accordingly and stay tuned.

Oct. Platinum

Support is at 352. Below that support at 347 then 344.3 to 342.

Resistance is at 354.5 and the 355.3 to 356.3 region. Beyond that resistance should appear near the 361.3 to 362.3 region. BW Traders can sell at 361.8 for a turn lower, risk a close over 364.5 for two days in a row.

Sept. Silver

On the DownSide nearby support is at 504.5 and 499. Under that support at 490 and 476 should hold..

On the Upside. Nearby resistance is at 512.5 and 516.5. A close 516.5 is friendly and augurs for a test of 521.5 Beyond that resistance is at 528 5 and 535. Beyond that sellers should appear near 549.5 occurs.

Traders should go long if a close over 514.5 occurs

Trade Accordingly and Stay tuned...

The Exciting Energies

Sept. Crude

Nearby Support is at 1953 to 1946 and 1909 to 1902 which should contain a decline for the time being. BW Traders can buy at 1909 and hold for higher prices... Below that support is at 1869 to 1858.

Trade accordingly

Resistance is at 1969 and 1982 then 1996 to 2002. However a close over 1996 is friendly and augurs for a test of 2028 and 2034.

Sept. Unleaded Gas

Nearby Support is at 5880 to 5855 region. Under that 5805 to 5792 should hold.today

Resistance should appear at 5945 to 5967 and 6023. A close over 5967 is friendly and augurs for a test of the 6075.

Sept. Heating Oil

Nearby Support is at 4995 to 4972 Below that support is at 4856 to 4845.

BW Traders can buy at 4856 , risk a close under 4775 for two days in a row.

Resistance is at 5056 to 5080 then 5157 and 5212

Trade Accordingly.

The Grand Grains

November Beans

Nearby Resistance is at 438 3/4 to 440 beyond resistance is at 452.

Support is at 429 3/4 and 425 1/2 then 421

Dec. Soybean Meal

Resistance is at 133.30 then 134.6 and 136.5.

Support is near 130.7 and 129.80 and 127.

Dec. SoyBean Oil

Resistance is at 1642 to 1655 region .Beyond that resistance is at 1675 .

Support is at 1625 and 1615 to 1608 then 1572 to 1569.

Dec. Corn

Resistance is at 210 1/2 and 211 3/4 then 215 1/2.

Support is at 206 3/4 and 205 then 202

Sept. Wheat

Resistance is at 249 and 252. Beyond that sellers should appear near 255.

Support is at 245 to 243 1/4, day traders can buy at 243 1/2 and hold for higher prices , under that support is at 240 1/4 and the 237 to 235 1/2 region. BW traders can go long at 237 risk a close under 235 1/4 for three days in a row.

Trade accordingly

The Satisfying Softs

Dec. Cotton

On the DownSide support is at 5036 and 5015 Below that buyers should appear near the 4975 and 4926 to 4915.

On the Upside Nearby Resistance is at 5074 and 5127 to 5139 and 5175 . A close over 5175 is friendly and augurs for a test of 5245 .Beyond that resistance is at 5330.

Oct. Sugar

Nearby Support is at 563 to 559. Day traders can buy at 563, risk 35 pts Below that support is at 538 to 534

Resistance should appear at 582 to 586 and 601 to 609 A close over 602 is friendly and augurs for a test of 630 to 634. BW Traders can go short at 634 for a turn lower risk a close over 656 for three days in a row.

Trade Accordingly

Sept. Coffee

On the Upside, Resistance is at 9545 to 9565 and 9740 to 9765 and 9815 Above that resistance should appear near the 100.00 to 100.50 and the 103.20 to 103.60 region.

On the DownSide, early support is at 9445 to 9425 and 9345 to 9315 .Below that

buyers should appear near 9235 and the 9060 to 9040 region. Hearty BW Traders can buy at 9060 and hold for higher prices..

Sept. Cocoa

Support is at 1036 to 1032 and 1021...day traders can buy at 1036, and hold for higher prices...Below that support is at 1005 to 1000

Resistance is near 1058 and 1068 to 1071

 

The Lively Livestock

August Cattle

Resistance is at 6387 and 6412 then 6452 and 6487. BW Traders can sell at 6482, risk a close over 6512 for three days in a row. Above that resistance is at 6577 to 6592.

Support is at 6337 and 6302 then 6262.. BW traders can buy at 6337 for a bounce and risk a close under 6312 for three days in a row. .

Aug. Hogs
Support
is at 4447 to 4427 and 4402, under that support is at 4337 to 4322.

Resistance is at 4522 and 4537 then 4567 to 4582 beyond that sellers should appear near 4622.

From the Frying Pan into the Fire--

Aug. Bellies

Support is at 3387 to 3377 then 3322 and 3212 to 3192.

Resistance is at 3492 and 3512 then 3647

Stay Tuned for Flashes..

 

The Sensational Stock and Bond Markets

Sept. Bonds

On The DownSide nearby support is at 117-05 , day traders can buy at 117-05 and hold for higher prices . Below that support is at 116-29 and 116-06. BW Traders can buy at 116-09 and hold for higher prices, risk a close under 115-26 for three days in a row..

On the Upside Nearby Resistance is at 117-25 to 117-28 A close over 117-28 is friendly and augurs for a test of resistance at 118-05 and the 118-28 region.

BW Traders can sell at 118-26 for a turn lower and hold for lower prices.

Trade Accordingly.

Sept. SP 500

On the DownSide Nearby Support should be evident in the 1383 to 1377 region Day Traders can buy at 1383.10 for a turn higher put your own risk on it and stay tuned. Under that support is at 1370.40 to 1369.80 Where it should hold on a decline basis the close. Day Traders can buy at 1370.40 for a bounce, again put your own risk on it and stay tuned for an exit... Below that support is at 1366.50 and 1361.5 .

Nearby Resistance is at 1305.20 and 1399 to 1402.30 Day Traders can sell at 1399 for a turn lower and put your own risk and hold for lower prices ..A close over 1399 is friendly and augurs for a test of 1405.20 and 1410 Beyond that sellers should appear near 1415

Stay tuned for Flashes ...

Dow Jones Industrial Avg.
Support
is near 10,985 then 10,960 and 10,907. Where it should hold on this

decline. Below that support is at 18,883 and 10,820

Resistance should appear near 11,010 and 11,102 Beyond that resistance is at 11,143 to 11,155 ..

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

Happy Trading

Bill

July 20 1999
8:31 PM

 

Happy Trading

Bill

B W Recommended Open Pos.

Long 2 Oct. Platinum at 351.1 avg
Long Sept. Silver at 506.5
Long Sept. Coffee at 9490
Long Sept. Heating Oil at 5212
Long Sept. Crude at 2048
Long Sept. C$ at 6720
Long 2 Sept Unleaded at 5971 avg

Long Sept SP500 at 1399

Long Aug Hogs at 4517

Long Sept Wheat at 247 1/4

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