The

Economic and Investment Trend Analysis - Socio Economics - Forex - Bonds - Dow Jones - Nasdaq - SP500-
Precious Metals - Energy - Livestock - Grains - Softs

FuturesCom Investment Publications
Morning Comments, Tuesday July 2nd, 2002
Experienced Since 1979 - Serving Professional and Individual Traders World Wide since 1988
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Morning Comments
Monday, July 1st, 2002
3:55 PM e.s.t.

The ‘Frenzied’ Forex Front

September Yen
Recommended Open Bw Position , Short 8362
Support should appear near 8314 to 8300 and the 8223 to 8194 region...

Resistance should appear near the 8391 to 8406 and the 8484 to 8499 region BW Traders can sell at
8482 for a turn lower and risk a close over 8593 for three days in a row

September Euro Currency (EC)
Recommended Open BW Position , Long 9841
Support should appear at the 9837 to 9821 region .. Below that buyers should appear near 9737 to 9706 region..
Resistance is at 9879 and 9921 to 9937.. A close over is friendly and augurs for a test of 1.0021 to 1.0037 and the 1.0104 to 1.0136 region…

BW Traders should go long if a close over 9941 occurs..

Stay tuned for Updates …

September Swiss Franc
Resistance should appear near 6755, a close over is friendly and augurs for a test of 6809 to 6835
Support should appear near 6707 and 6673 to 6659.. BW Traders can buy at 6709 for a bounce and risk a close under 6654 for three days in a row.
BW Traders should go long if a close over 6838 occurs.

September British Pound
Support should appear near 1.5172. BW Traders can buy at 1.5172 for a turn higher and hold for higher prices.. Below that support should appear near 1.4960 to 1.4840

Resistance is at 1.5290 to 1.5350 , a close over is friendly and augurs for a test of 1.5510 ..

BW Traders should go long id a close over 1.5362 occurs.

September Canadian Dollar
Support should appear at 6577 then 6543 and 6509 to 6482.
BW Traders can buy at 6547 and risk a close under 6477 for three days in a row..

Resistance is at 6627 and 6659 to 6673… A close over augurs for a test of 6741 to 6753 and the 6809 to 6835 region ..

BW Traders should go long if a close over 6631 occurs..

September Aussie Dollar
Support is at 5577 to 5553. Under that 5504 to 5492 should contain a decline for a bit..
Resistance is at 5640 to 5653 , a close over is friendly and augurs for a test of 5716 to 5729 and eventually 5855 to 5880, which should Cap an advance ..

BW Traders should go long if a close over 5656 occurs..

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 9140 then 9156 and 9237

Support should appear near 9060 to 9044 and the 8964 to 8934 region

September SP500

Resistance is at 970.6 to 973.7 and 982.1 to 983.7
Support should appear near the 964.1 to 962.5 region.. A close under 962.5 is negative and indicates a an eventual test of 944.5 to 942.90

Nasdaq Composite
Resistance is at 1415 to 1421 and 1453 to 1459.
Support should appear near 1383 to 1377 and the 1346 to 1334 region.. which should stop a decline for
a bit..

September Mini Nasdaq 100

Resistance is at 1018.5 and 1032 to 1036.
Support is at 1000 then 993.5 to 992.00 and 983.7 to 982.1

Sept 10 Year T-Note
Resistance should appear near 107-23 and 108-04 which should cap a rally for a bit.

Support is at 107-04 and 106-23… .

Precious Metals

August Gold
Recommended open BW position , long 2 at 317.1
Support should appear at 310.2 to 309.2 and 306.8. Under that buyers should appear near 304.5 to 303.6 and the 299.0 to 297.2 region

Resistance is at 315.7 and 319.4 to 3213 , a close over is friendly and augurs for a test of 326.1 to 327.

BW Traders should go long / add if a close over 316.1 occurs

September Copper

Support should appear near the 7690 to 7675 then 7605 to 7580 and the 7515 to 7480 region..

Resistance should appear near 7760 to 7780 then7835 to 7865

BW Traders should go long if a close over 7780 occurs...

Sept Silver
Recommended open BW position , long at 490.0
Support should appear near 485.5 to 484.5 and 478.5 to 477.5
Resistance is at 491.5 to 492.5.. Beyond that an eventual test of 503.5 to 506.5 is likely

Stay tuned for Updates

The Exciting Energies

August Crude Oil
Recommended open BW position , long at 2634
Support should appear near 2620 to 2612 and 2568 to 2552 ..

Resistance is at the 2716 to 2724 region. Beyond that an eventual test of 2758 to 2775 is likely.

BW Traders should go long if a close over 2728 occurs.

August Unleaded Gas
Support should appear near 7865 to 7835 and 7775 to 7760 . Below that buyers should appear near 7690 to 7675 BW Traders can buy at 7695 and risk a close under 7470 fro three days in a row.

Resistance is at 7940 to 7955.. Beyond that a test of 8025 to 8045 is likely.
BW Traders should go long if a close over 7965 occurs..

August Heating Oil
Resistance is at 6805 to 6835 and 6910 to 6920 . .

Support should appear near 6755 to 6740 and 6670 to 6655.. BW Traders can buy at 6670 and risk a close under 6470 for three days in a row.
BW Traders should go long if a close over 6845 occurs..

The Lively Livestock

August Live Cattle
Support should appear at 6432 to 6417 and 6357 to 6332.
Resistance is at 6487 to 6502 , which should cap the rally for a bit.. Beyond that sellers should appear near 6577 to 6592

August Hogs
Support is at 4857 to 4842 and 4787 to 4772

Resistance is at 4912 to 4927 .. Beyond that sellers should appear near 4972 to 4997
and the 5032 to 5067 region.

Stay tuned for updates..

July Pork Bellies
Support should appear at 6672 to 6657 and 6592 to 6577..

Resistance is at 6807 to 6837. Above that sellers should appear near 6907 to 6922.and the 6987 to 7002 region.

-Stay tuned for Livestock and Belly Updates and Flashes-

The Grande’ Grains

August Soybeans
Recommended open BW position , long at 540 1/4
Resistance is at 541 3/4 to 543.. Above that sellers should appear near 555 3/4 to 557 1/2

Support should appear at 535 3/4 to 534 1/2.. Under that buyers should appear near 528 1/2 to 525 1/2 .Below that support is at 521 1/4 to 520 Traders can buy at 521 1/2 and risk a close under 511 for three days in a row..

August Soybean Meal
Recommended open BW position , long at 180.80
Support should appear near 178 to 177.4 and 173.8 to 173.1 BW Traders can buy at 173.1 and risk a close under 168.4 for three days in a row.

Resistance is at 182.2 and 185.8 to 186.5.

August Soybean Oil
Support is near 1822 to 1808. and 1796..
Resistance should appear near 1858 to 1869 , a close over 1869 is friendly and augurs for a test
of the 1902 to 1909 region.

BW Traders should go long if a close over 1873 occurs.

Sept Corn
Recommended open BW position , long at 240 1/2
Resistance should appear near 241 1/2 to 242 and the 246 1/4 to 247 region

Support is at 237 to 235 1/2 and 232 1/4 to 231 1/2

Sept Wheat
Recommended open BW position , long 2 at 317 3/4
Support should appear at to 319 1/2 and 315 3/4 to 314
Resistance is at 326 1/2 to 327 and the 331 3/4 to 332 3/4 region

The Satisfying Softs

September Cocoa
Recommended open BW position , long at 1671
Resistance is at 1689 to 1696, a close over is friendly and augurs for a test of the 1731 to 1738 region.

Support should appear near 1655 to 1642 and 1615 to 1609 under that support is at 1576 to 1569..

September Coffee
Support is near 4995 to 4975 and 4930 to 4915.

Resistance should appear near the 5035 to 5070 region. . A close over 5070 is friendly and augurs for a test of 5200 to 5215. and the 5255 to 5285 region.

--Stay tuned for updates --

October Sugar
Support should appear near 515 to 507 and 493 to 490.

Resistance should appear near 534 to 538 and the 558 to 562 region.

Trade Accordingly

December Cotton Futures
Recommended open BW position , long at 4790
Nearby Support should appear near 4720 to 4695 and the 4650 to 4635 which should contain a decline..

Resistance is at 4775 to 4785 and 4845 to 4855 .

Trade Accordingly and stay tuned for updates..

A Ship in Harbor is Safe.. But that is not what ships are built for –

Happy Trading !
Bill
bill@futurescom.com
1--561-433-2995

Monday July 1st, 2002
4:55 PM South Florida Beach Time

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 ARE 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.