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Morning
Comments, Tuesday April 20th 2004
Serving Professional and Individual Traders World Wide since 1988
7690
Rockport Circle , Lake Worth , Florida 33467 - USA and Canada
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http://www.futurescom.com
Monday April 19th 2004
4:00 PM. West Palm Beach Time
The
Frenzied Forex Front
June Yen
Resistance should appear near 9314 to 9347 and 9429 to 9444
Support should appear near 9237..a close under augurs for a test of 9156
to 9140 and eventually the 8986
to 8934 region….Below that buyers should appear near 8871 to 8856.. BW
Traders can buy at 8877 for a turn higher and risk a close under 8752
for three days in a row.
June Euro
Currency (EC)
Support should appear at 1.1920, a close under augurs for a test of 11805
and eventually the 11690 to 11640 region.
Resistance is at 12030 and
12175..Beyone that sellers should appear near 12320 to 12380 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 at 7804
Resistance should appear near 7763 to 7777
and the 7836 to 7864 region.
Support should appear near the 7689
to 7675 region and 7601 to 7587..
Aggressive BW Traders should go short if a close under 7722
June British Pound
Support
should appear near 17940 and the 1.7800 to
1.7740 region.
Resistance should appear near
18080 to 18150 and 18220 BW Traders can sell at 18132 to a turn lower and
risk a close over 18232 for three days in a row
BW Traders should go short if a close under 17728 occurs.
June Canadian Dollar
Support should appear near the
7342 to 7328 region. Under that buyers should appear near 7255 to 7242
Resistance is at 7428 and the
7486 to 7513 region.. BW Traders can sell at 7482 and risk a close over
7604 for three days in a row.
BW Traders should go short if a close under 7409 occurs..
June Aussie Dollar
Support should appear near 7342 to 7328 and 7255 to 7242 .
Resistance should appear at 7414 to 7428 and the 7486 to 7513 region..BW
Traders can sell at 7484 and risk a close over 7557 for three days in a
row. Aggressive BW Traders should go short if a close under 7320
occurs..
The Sensational Stock and Bond Markets
Dow
Jones Industrial Average
Resistance should appear
near 10580 to 10680,
Support should appear near 10360 to 10320 and 10136 to10104, which
should hold and contain a decline for the time being. …
June SP500
Resistance should appear near 1150 and 1164.00 to 1169.00
Support should appear near 1130.00 and the 1101.00 to 1096.00 region .BW
Traders can buy at 1115.70 and hold for higher prices..
BW Traders should go long if a close over 1136.70 occurs.
Nasdaq Composite
Support should appear near 1996 to 1982 below that buyers should appear near 1953 to
1946
Resistance should appear near 2034 to 2042 , a close over is friendly and
augurs for a test of 2080 to 2089
June Mini Nasdaq 100
Resistance is at the 1484 to 1496 region.
A close over is friendly and indicates a test of 1529 to 1535.
Support is at 1459 to 1453 and 1421 to 1415.
June
10 Year T-Note
Resistance
should
appear near 111-22 then 112-07 and 112-22 ..
Support
is
at 111-07 and 110-22 .. Below that buyers should appear near 110-07
Trade accordingly.
Precious Metals
June Gold
Resistance should appear at 404.60 to 405.60 .. Beyond that sellers should
appear near 411 to 412 and 416.3 to
418.3. BW Traders can sell at 410.90 and risk close over 418.7 for three days in a
row. Beyond that sellers should appear near 423.80 to 424.90 and cap a rally.
Support is at 399.3 to 398.2 a slip under augurs for a test of 392.90 to
390.90 and eventually the 386.70 to 385.80 region, which should hold..
BW Traders should go short if a close under 397.70 occurs.
July Copper
Support should appear near 134.60 to 133.40 and the 131.00 to 130.40 region.
Resistance should appear near 137.70 to 13830 .. A close over is friendly and augers for a test of and the
141.5 to 142.10 region.
Aggressive BW Traders should go short if a close under 130.10 occurs.
July Silver
Support should appear 708.5 to 707.5 and 700.5 to 699.. Below that buyers
should appear near 683.5 to 680.5. Under that 675.5 to 674.0 to 667.5 to 665.5
should contain a decline..BW Traders
can buy for a bounce at 676.5 and risk a close under 664.0
for three days in a row.
Resistance is at 732.5 to 734.5 and the 748.5 to 751.5 region.
Beyond that a test of 776.5
to 778.0 is likely.. . BW Traders who sleep on a bed of nails can sell at 776.0 for a turn lower and
risk a close over 786.5 for three days in a row.
The Exciting Energies
June
Crude Oil
Resistance should
appear near 3734 to 3743 3795 to 3806.. Beyond that sellers should appear near
the 3858 to 3868 region.
Support is at 3682 to 3663
a close under is negative and augurs for a test of 3563 to 3553 and most
likely the 3503 to 3493 region.
June Unleaded
Gas
Recommended open position short 11600
Resistance should appear
near 11640 to 11690 and 11920 to 12030 , which should cap an early rally..
Support should appear near 11500, a
slip under augurs for a test of 11360 to 11300 failure there augurs for a test
of 11010 to 10960 and eventually the 10680 to 10580 region. Which should hold..
June Heating Oil
recommended open position short 9310
Resistance should appear near
9345 then 9425 to 9445 and 9560 to 9590 Beyond that 9705 to 9735 should
cap a rally ,, .BW Traders can sell at 9705 and risk a
close over 9945 for three days in a row.
Support should appear near 9235 , a close under is negative and
augurs for a test of
9155 to 9140 and 9060 to 9045.
The Lively Livestock
June Cattle
Nearby Support should appear at 7602 to 7587 and 7512 to 7487
Resistance is at 7672 to 7692 and the 7762 to 7777 region. BW Traders can sell
at 7757 and risk a close over 7872 for three days in a row.
June Hogs
Support is at 7002 to 6992 and
the 6837 to 6812 region ..
Resistance is at7072 to 7087 and 7142 to 7170
July Hogs
Support is at 6922 to 6912 .. Below that buyers should
appear near 6837 to 6807 and the 6757 to 6742 region. Which should hold.
BW Traders can buy at 6842 and risk a close under 6652for three days in a
row.
Resistance is at the 6992 to
7002 and the 7072 to
7087 region.. .
BW Traders should go long if a close over 7092 occurs.
May Pork
Bellies
Support should appear near the 10360 to 10320 and the 10137 to 10102 region.
Resistance is at 10580 to 10680 ..Beyond that sellers should appear near the 10820
---
Traders should stay tuned for BW Updates and Flashes in the Livestock
markets ---
The Grande’ Grains
July Soybeans
Resistance is at 982¼ to 983
3/4 beyond that selling should
appear near 1002 ¼ to 1003 ¾ and the 1043 to 1036 region, which should cap a
rally for a bit..
Support should appear at 955 ½ to 942 ¾ and the 934 ¾ to 931 ¾ region,
which should hold. Well-heeled
BW Traders who have ice water running through their veins can buy at 937 and risk a
close under 913 ¾ for three days in a row.
Below that 887 ¼ to 885 ¾ should contain a decline ..
July Soymeal
Support should appear near 293.7 to 292.8
and the 282.9 to 282 region, which should hold. BW Traders
can buy at 283.1 and risk a close under 271.2 for three days in a row.
Resistance should appear near 309.1 to 310.2 and the 319.4 to 321.3 region..
Beyond that sellers should appear near 337.7.to 338.6 .. Which should Cap a
rally for a bit.
BW Traders should go long if a close over 310.7 occurs.
July Soybean Oil
Resistance should appear near 3261 to 3270 then 3319 to 3328 and 3377 to
3386 ..
Support should appear near 3213 to 3194 , which should contain a decline,
Failure there augurs for a test of 3157 to 3148 and eventually the 3102
to 3092 region..
BW Traders can go short if a close under 3189 occurs
Stay tuned for BW Flashes and Updates..
July Corn
Resistance should appear near 326 1/4 to
327
Support is at the
315 3/4 to 314 3/4 region..Below that buyers should appear near 310 1/4 to 309
1/4 .
BW Traders should go long if a close over
321 3/4 occurs.
December Corn
Resistance should appear near 314 3/4 to 315 3/4 a close over augurs for a test of 326 1/4 to 327 which should cap a rally for a bit. .
Support is at 299 to 297 1/4 and the 288 1/4 to 287 1/2 region.. BW Traders can
buy at 299 3/4 and risk a close
under 281 3/4 for three days in a row
BW Traders should go long if a close over 316 1/4 occurs.
July CBOT Wheat
Recommended open position long 402 1/2
Support should appear near 392 3/4 to 390 3/4 and the 380 3/4
to 379 1/2 region.
Resistance should appear
near 405 3/4. A
close over is friendly and augurs for a test of 411 to 412 and the 416 1/4
to 418 1/4 region.
BW Traders should go long if a close over 399 1/4
occurs
Trade Accordingly and Stay tuned for updates
The Satisfying Softs
July the ‘Monster’ Coffee
Support is near 7170 to 7145 and
the 7005 to 6990 region.. Under
that buyers should appear near 6755 to 6740 and 6670 to 6655.
BW Traders can buy at 6765 and hold for higher prices.. risk a close under 6655
for three days in a row.
Resistance should appear near 7240 to 7255 , a close over augurs for a
test trade to 7325 to 7340 and eventually the 7415 to 7430 region.
BW Traders should go long if a close over 7265 occurs.
July Cocoa
Support is at the 1346 to 1334 region.. Below that buyers should appear near
1310 to 1304 and 1274 to 1268
below that 1238 to 1232 should hold. .BW Traders can buy at 1277 and risk a
close under 1227 for three
days in a row.
Resistance is at 1414 to 1428 and 1453 to 1459
July
Sugar
Support should appear near 682 , a slip under augurs for a test of 661 to 656. BW
Traders can buy at 663 for a turn higher and risk a close under
627 for three days in a row..
Resistance should appear near the 704 to 712
region. Beyond that resistance should surface near
735 to 739
July Cotton
Support
should appear near 6190 to
6165 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 6335 to 6350 . A close over is friendly and
augurs for a test 6485 to 6510
BW Traders should go long if a close over 6355 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 19th, 2004
3:10 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.
-----------------------------------------------------------------------------------------
Terms
FuturesCom Investment Publications Copyright@1996-2004 all rights reserved
Recommended Open BW Positions
Short June Swiss Franc 7804
Long July Wheat 402 1/2
Short June Unleaded 11600
Short June Heating Oil 9310