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Morning Comments,
Tuesday April 6th 2004
Experienced Since 1979 -
Serving Professional and Individual Traders World Wide since 1988
7690
Rockport Circle, Lake Worth, Florida 33467 Tel: 1-561-433-2995 http://www.futurescom.com
Monday April 5th 2004
2:30 PM .. West Palm Beach Time
The
Frenzied Forex Front
June Yen
Resistance should appear near 9625 to 9641 and the 9707 to 9737 region.
Support should appear near 9526 and the 9445 to 9429 region , which
should hold.
June Euro Currency (EC)
Support should appear at 1.1920, a close under augurs for a test of 11805
Resistance is at 12030 and 12175. BW Traders can sell at 1.2174 for a
turn lower and hold for lower prices … Risk a close over 12252 for three days
in a row. Aggressive
BW Traders should go short if a close under 11917 occurs
June Swiss
Franc
Recommended Open Position Short 7672
Resistance should appear near 7675 to 7689 and 7763 to7777
Support should appear near 7601
to 7587.. Below that buyers should appear near 7513 to 7486
June British Pound
Recommended Open Position Short 2 at 18007 avg
Support should appear near 1.7940 and the 1.7800 to 1.7740 region.
Resistance should appear near 18080 to 18150 and 18220 .
June Canadian Dollar
Recommended Open Position Short 7586
Support should appear near 7601
to 7587 and 7513 to 7486
Resistance is at 7675 to 7689
and the 7763 to 7777 region.
BW Traders should go short if a close under 7482 occurs..
June Aussie Dollar
Recommended Open Position Short 2 at 7389 avg
Support should appear near 7428 to 7414 and 7342 to 7328
Resistance should appear at 7486 to 7513 and 7587 to 7601
The
Sensational Stock and Bond Markets
Dow
Jones Industrial Average
Resistance should appear
near 10580 to 10630 and 10680
Support should appear near 10470 and 10360 to 10320i
June SP500
Recommended Open Position Long 2 at 1111.50 avg
Resistance should appear near 1164.00 to 1169.00
Support should appear near the 1136.00 to 1130.00
Traders should stay tuned for Flashes and Updates
Nasdaq Composite
Support should appear near 2042 to 2034 and 1996 to 1982
Resistance should appear near 2080 to 2089 and 2126 to 2134
June Mini Nasdaq 100
Resistance is at 1529 to 1539 and the 1569 to 1576 region..
Support is at 1496 to 1484 and 1459 to 1453 .
June
10 Year T-Note
Resistance should
appear near 112-22 and 113-07
Under that 110-22 should hold.
Precious Metals
June Gold
Recommended Open Position Short at 418
Support should appear at 416.3 and 412 to 411.0
Resistance is at 423.8 to 424.9 and 430.4
to 431.5
May Copper
Support should appear near 130.40 .. Failure there augurs for a test of
127.40 to 126.80 and the 123.80to 123.20 region, which should hold..
Resistance should appear near 133.40
to 134.60 and 137.70 to 138. 30
May Silver
Support should appear 804.5 to 802.5 and the 795.5 to 794.0 region. .. a
close under augurs for a test of 777.5 to 776.5
Resistance is at 830 to 831.5 and the 848.5 to 849.5
region.
The Exciting Energies
May
Crude Oil
Resistance should
appear near 3493 to 3503 and 3553 to 3563 Beyond that sellers should appear near
3613 to 3623 and the 3734 to 3743
region which should cap a rally….
Support is at 3425 and 3386 to 3377 , a close under is negative and augurs
for a test of 328 to 3319 and the
3270 to 3261 region.. Below buyers should appear near 3157 to 3148.. and the
3102 to 3092 region..
Which should stop a decline for a bit.. .
May Unleaded
Gas
Resistance should appear
near 10680 then 10820 and 10960 to 11010 .. which should cap an early rally.
Support should appear near 10580
region. However a close under is negative and augurs for a test of 10360 to
10320 .
Aggressive BW traders should go
short if a close under 10555 occurs
May Heating Oil
Resistance should appear near 8560 to
8590 and the 8765 to 8780 region
Support should appear near 8500 to 8485 then 8405 to 8390 and 8315 to 8300 .
BW Traders should go short if a close under 8480 occurs..
Trade Accordingly…
The Lively Livestock
June Cattle
Recommended open position short at 7357
Nearby Support should appear at 7602 to 7587 and 7512 to 7487
Resistance is at 7672 to 7692 and the 7762 to 7777 region ..
June Hogs
Support is at 7257 to 7242 and 7170
to 7142
Resistance is at 7327 to 7242 and the 7412 to 7427 region.
July Hogs
Support is at 7002 to 6992 and 6922 to 6912 .
Resistance is at the 7072 to
7087 region.. .A close over is friendly and augurs for a test of
7142 to 7172 and the 7242 to 7257 region.
BW Traders should go long if a close over 7092 occurs.
May Pork
Bellies
Recommended open position Short at 10122
Support should appear near 10680 to 10630 and 10580.
Resistance is at 10820 and 10960 to
11010
The Grande’ Grains
July Soybeans
Resistance is at 1032 to 1036 and 1058 to 1068 .
Support should appear at 1005 to 1000. A close under augurs for a test of
993 3/4 to 992 1/4 and eventually the
973 3/4 to 970 3/4 region , which should hold for a bit.
Trade According and Stay tuned for Updates
July
Soymeal
Support should appear near 321.3 to 319.4 .. Below that buyers should appear
near 310.1 to 309.2 and the 304.5 to 303.6 region
Resistance should appear near 326.1 to 327.0 and 331.9 to 332.8
July Soybean Oil
Resistance should appear near 3319 to 3328 and 3377 to 3386 ..
Support should appear near 3261 and 3213 to 3193 , which should contain a
decline,
Aggressive BW Traders who have ‘ice water running thru their veins’
can go short if a close under 3189 occurs
Stay tuned for BW Flashes and Updates..
July Corn
Recommended open position Long 323 1/2
Resistance should appear near 342 1/2 to 344 1/4 region and 349 3/4 to 350
1/2
Support is at 332 3/4 to 331 3/4 BW Traders can buy at 329 3/4 and hold
for higher prices.
Below that buyers should appear near 326 to 326 1/4
BW Traders should go long if a close over 338 3/4 occurs.
December Corn
Resistance should appear near 337 3/4 to 338 3/4 and the 342 1/2 to 344 1/4
region .. a close over augurs for a test of 349 3/4 to 350 1/4
Support is at 332 3/4 to 331 3/4 and 326 to 326 1/4.
BW Traders can buy at 333 ¼ and
risk a close under 318 ¾ for three days in a row.
BW Traders should go long if a close
over 339 ¼ occurs.
May CBOT Wheat
Support should appear near 412 to 411 then 392 3/4 to 390 3/4
and the 386 3/4 to 385 3/4 region
Resistance should appear near 416 1/4 to 418 1/4 and
423 3/4 to 424 3/4 .. A close over is friendly and augurs for a test of 430
1./2 to 431 1/2 and the 442 1/2 to 444 3/4 region..BW Traders should go long
if a close over 419 1/4 occurs
July CBOT Wheat
Support should appear near 418 1/4 to 416 1/4 and 412 to 411.. Below that
buyers should appear near
405 3/4 to
404 3/4
Resistance should appear
near 430 1/2 to 431 1/2 and the 442
1/2 to 444 34 region…
BW Traders should go long if a close over 431 1/2
occurs
The
Satisfying Softs
May Coffee
Recommended open Position Long
7645
Support is near 7170 to 7145 and 7090 to 7075
Resistance should appear near 7240 to 7255 and 7325 to 7345
July the ‘Monster’ Coffee
Support is near 7425 to 7410 ..Below that buyers should appear near 7170 to
7145
Resistance should appear near 7485 to 7515 and 7585 to 7605.
BW Traders should go long if a close over 7615 occurs .
July Cocoa
Support is at 1421 to 1415. A close under is negative and augurs for a test
of 1383 to 1377 and the 1346 to 1334 region..
Resistance is at 1453 to 1459 and the 1484 to 1496
region .
BW Traders should go short if a close under 1412 occurs.
July
Sugar
Support should appear near 656 and 634 to 630, a close under augurs for a test of 609 to
601
Resistance should appear near 682 to 686 and the 704 to 712
region. BW traders can sell at 681 and risk a close over 691 for
three days in a row
May Cotton
Recommended open position long at 6355
Support should appear near 6190 to 6165 and
6115 to 6105.
Resistance should appear near 6335 to 6355 . A close over is friendly and
augurs for a test 6485 to 6510
July Cotton
Support
should appear near 6350 to
6335 and the 6115 to 6105 region
BW .Traders can buy at 6115 and
hold for higher prices. Risk a close under 5935 for three days in a row.
Resistance should appear near 6485 to 6510 and 6575 to 6590 . A close
over is friendly and augurs for a test 6740 to 6755 and eventually the 6810 to
6835 region..BW Traders should go long if a close over 6525 occurs
A Ship in Harbor is Safe...But that is not what ships
are built for –
Stay tuned for
flashes and updates in all markets..
Happy
Trading!
Bill
wil@futurescom.com
1-866-409-3890
Monday April 5th,
2004
3:25 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.
-----------------------------------------------------------------------------------------
FuturesCom Investment Publications Copyright@1996-2004 all rights reserved
Recommended Open Positions
Short June Swiss Franc 7672
Short 2 June British Pounds at 18007 avg
Short June Canadian Dollars 7586
Short 2 June Aussie dollars at 7389 avg
Long 2 June SP500 1111.50 avg
Short June Gold 418.00
Short June Cattle 7357
Short May Pork Bellies 10122
Long July Corn 323 1/2
Long May Coffee 7645
Long May Cotton 6355