Courage in a Speculator is merely confidence to act on the decision of his mind
Sunday April 11, 1999
12:29 PM
On the Frenzied Forex Front
June Japanese-Yen
Nearby Support is at 8314 to 8300. Below that 8223 to 8194 should hold. A close under 8194 is negative and augurs for a test of 8119 to 8114 and 8044 where traders can buy and hold for higher prices.
Resistance is at 8352. A close over 8352 augurs for a test of 8391 then 8406 to 8422.
A close over 8422 is friendly and augurs for a touch of 8484 to 8499. Above that
resistance is at 8560 to 8589 and 8629. A close over 8629 augurs for an eventual test of the 8668 to 8683 and the 8762 to 8777 region. Above that resistance should appear near 8856 / 8871 and the 8891 region. Traders should sell at 8871, risk a close over 8965 for two days in a row.
Traders should go long if a close over 8352 occurs.
June D-Mark
Support is at 5535
then 5504 and the 5492 to 5485 region. Traders can buy at 5492 for a good
two to three day turn higher, risk a close under 5454 for three day in
a row. Below that support is at 5430 to 5418 where traders can buy at 5425
for a bounce, risk a close under 5418.
Below that 5356 to 5344 should contain a decline in the near future.
Resistance is at 5553 to 5577. A close over 5577 is friendly and augurs for an
eventual test of 5640 to 5653 beyond that resistance is at 5671 and 5682. Above that resistance is at 5710 to 5716/ 5729. Traders should sell at 5716, risk a close over 5729 for two days in a row.. Beyond that a test of 5777 to 5792 is likely. Traders should sell at 5792, risk a close over 5805 for three days in a row.
Traders should go long if a close over 5577 occurs.
June Swiss
Support is at 6788 to 6782, aggressive traders can buy at 6782 and hold for higher prices. Below that support is at 6767 and the 6758 to 6741 region.
Under that support is at 6688 to 6659.
Resistance is at 6809 and 6836 to 6838 then 6867. A close over 6836 is friendly and augurs for a test of 6906 to 6919. Beyond that resistance is at 6931 and 6958. Above that sellers should appear near 6990 to 7003 and the 7074 to 7088 region Beyond that resistance is near 7130 and the 7143 to 7170 region. Traders can sell at 7143 and hold for lower prices.
Traders should go long if a close over 6836 occurs.
June British Pound
Support is near 1.6044 to 1.6022 and the 1.5936 region. Traders can buy at 1.5936 and hold for higher prices. Below that 1.5760 to 1.5690 should contain weakness.
Resistance is at 1.6090 and 1.6120 to 1.6150 Beyond that resistance is at 1.6224 and 1.6286. A close over 1.6286 augurs for a test of 1.6420 and 1.6486. A close over 1.6420 is friendly and augurs for a test of 1.6550
Traders should go long if a close over 1.6120 occurs
June Canadian Dollar
Support should appear
at 6675 to and 6659. A close under 6655 is negative and augurs for a test
of 6625. Traders can buy at 6625 for a bounce, risk a close under 6591.
Below that support is at 6577 and 6550. Below that support is at 6509 to
6482. Under that support is at 6430 to 6417. Traders can buy at 6510 for
a turn higher risk a close under 6482 for three days in a row.
Resistance should appear at 6675 and the 6719 to 6721 region. Beyond that
BW Traders can sell at 6741 for a turn lower, risk a close over 6755 for three days in a row. Above that sellers should appear near 6809 to 6836.
Stay tuned for Forex flashes
Precious Metals
Aug. Gold
Support is at 284.7 and the 282.90 to 282.0 region. Under that buyers should appear near 279.5
Resistance is at 287.4 and 289.5 A close over 289.5 is friendly and augurs for a test of the 292.80 to 293.70 region.
Trade accordingly
May Copper
Support is at 6430 to 6415 then 6365. Traders can buy at 6265 and hold for higher prices. Under that some support should appear near 6290 aggressive traders can buy at 6290 and risk a close under 6255 for three day in a row.
Resistance is at 6495 to 6510, and the 6545 to 6585 region. Beyond that resistance is at 6655 to 6680. A close over 6680 is friendly and augurs for a test of 6800 to 6830 and 6890, beyond that resistance is at 6990 to 7005.
Traders should go long if a close over 6510 occurs.
July Platinum
Support is at 356.5 to 355 and 350.5 to 349 under that 344 should hold.
Resistance is at 366 to 368.5 and 373 to 375. Beyond that good sellers should appear near 383.30.
Hold.
May Silver
On the DownSide: Support is at 492.5. to 490.5. Traders can buy at 490.5 and hold for higher prices. Under that buyers should appear near 386.5 and 483. Traders should buy at 483 and hold for higher prices. Under that support is at 478.5 top 477.5 and 472.
On the Upside. Resistance is at 498 and 502.5. A close over 505 augurs for a test of 518. Beyond that resistance is at 532.5.
Traders should go long if a close over 504 occurs.
July Silver
Support is at 493.5
and 488.5, traders can buy 489.5 and Hold.
Resistance is at 497.5, a close over 497.5 is friendly and augurs for a test of 529.,
Traders should go long if a close over 497.5 occurs.
The Exciting Energies
June Crude
Nearby Support is at 1642 to 1638 and 1615 to 1609 where traders can at 1615 and hold for higher prices. Below that buyers should appear near 1578 to 1569. Traders can buy at 1578, risk close under 1560 for three days in a row. Below that support is at 1535 to 1529 and 1496 where it should hold. Traders can buy at 1496 for a turn higher , risk a close under 1453 for three days in a row.
Nearby Resistance is at 1663 to 1674. A close over 1663 is friendly. and augurs for test of 1689 to 1702 Beyond that resistance is at 1720 and the 1731 to 1738 region.
A close over 1738 augurs for a test of 1808 to 1822.
June Unleaded Gas
Nearby Support is at 5070 then 5045 and 4995 to 4970 . Traders can buy at 4975 and hold for higher prices. Under that buyers should appear near 4915 and 4785.
Resistance is at 5139. A close over 5139 is friendly and augurs for a test of 5270 to 5310. Beyond that resistance is at 5345 to 5356 and 5418. A close over 5430 is friendly and augurs for an eventual test of 5645 to 5653.
Traders should go long if a close over 5315 occurs.
June Heating Oil
Support is at 4249 to 4230. Traders can buy at 4240 and hold for higher prices.
Below that support is at 4175 to 4163. Under that Buyers should appear at 4120 to 4110 which should contain a decline. A close under 4110 is negative and augurs for a test of the 3992 to 3982 region..
Resistance is at 4304 to 4315 and 4415 to 4450. A close over 4450
is friendly and augurs for a test of 4580 and eventually 4695 to 4717.
The Grand Grains
May Soybeans
Support is at 477 1/2 and the 470 1/2 to 468 region. Under that 463 should hold.
Resistance is at 482 to 484 a close over 484 is friendly sand augurs for a test of 492.
Beyond that resistance is at 496 and 499.
July Soybeans
Support is at 488 1/4 then 485 3/4 and 482. Below that support is at 474.
Resistance is at 492 and 496 beyond that sellers should appear near 499.
A close over 499 augurs for a test of 513 to 516.
July Soybean Meal
Support is at 134.0 and 132.60 below that 13-0.5 to 128 should hold.
Resistance is at 137 and 138.4 then 141.
July Soybean Oil
Support is at 1876 then 1869 to 1858 and 1848 under that 1822 to 1808 should hold
Resistance is at 1898 and 1902 and 1909 beyond that sellers should appear near 1946 to 1953, a close over 1953 is friendly and augurs for a test of 1988 to 1996
and 2034 to 2042.
July Corn
Support is at 220 3/4 and 215 3/4 Below that 210 should contain a decline in the near term. Traders can buy at 210 and hold for higher prices.
Resistance is at 224 3/4 and 226, beyond that sellers should appear near 231.
July Wheat
Support is at 274 1/2 and 271 1/4 under that buyers should appear near 268
and 262 to 259.
Resistance is at 278 1/2 then 280 1/2 to 283, a close over 283 is friendly and augurs for a test of 287 and 292.
Traders should go long if a close over 279 occurs.
The Satisfying Softs
May Cotton
On the Upside resistance is at 6135 and 6165 , a close over 6165 is friendly and augurs for a test of 6265, beyond that resistance is at 6370 and 6415 to 6430 then 6490 to 6505.
On the DownSide support is at 6065 and 5965. Traders can buy at 5965 and hold for higher prices. Below that support is at 5935 and 5880.
July Sugar
Support is at 513 and 499 then 493 to 490 and 482.
Resistance is at 521, a close over 521 is friendly and augurs for a test of 533 to 538.
Beyond that resistance is at 559 to 563. Beyond that sellers should appear near 573 and the 582 to 586 region.
May Coffee
On the DownSide, support is at 9735 to 9700 and 9680, under that support is at
95.80 and 9450 below that 9170 to 9155 should hold.
On the Upside, Resistance is at 9935 and 100.00 to 100.50 . A close over 100.50 augurs for a test of 101.90 and eventually 103.20 to 103.60 Beyond that resistance
is at 105.10. to 105.80.
Traders should go long if a close over 100.50 occurs.
July Cocoa
Support is at 1115 and 1101 to 1096. Below that 1065 offer support
Resistance is at 1130 to 1136 , a close over 1136 is friendly and augurs for a test of the 1164 to 1169 region. Beyond that sellers will appear near 1192 to 1203 and 1232.
The Lively Livestock
June Cattle
Support is at 6497 to 6477, traders can buy at 6477 and hold for higher prices, under that support is at 6427 to 6417. Traders can buy at 6422 , risk a close under 6337 for three days in a row.
Resistance is at 6572 and 6627 to 6642, a close over 6677 is friendly and augurs for a test of 6812 to 6837 and 6907.
Traders should go long if a close over 6677 occurs.
June Hogs
Support is at 5442 to 5422 , traders can buy at 5442 and hold for higher prices. Below that buyers should appear near 5347 and the 5282 to 5257 region. Under that 5212 offers support. As does the 5127 region.
Resistance is at 5492 to 5507 and 5542. A close over 5542 is friendly and augurs for a test of 5622 to 5642 and eventually 5752 then 5805. Beyond that resistance is at 5855 to 5880 and 5945.
From the Frying Pan into the Fire--
May Bellies
Support is at 4982 then 4947. Traders can buy at 4982 and hold for higher prices
Below that 4832 to 4787 offers support. Hearty traders can buy at 4832 for a turn higher , risk a close under 4717 for three days in a row.
Resistance is at 5137 and 5162 to 5182. A close over 5137 is friendly and augurs for an eventual test of 5202 to 5212 and 5242 to 5287. A close over 5287 is friendly and indicates a test of 5520 and the 5652 to 5717 region.
Stay Tuned for Flashes the Pork Complex.
The Sensational Stock and Bond Markets
June Bonds
On The DownSide nearby support is at 122-27 Below that support is at 122-09 and 121-27. A close under 121-27 is negative and augurs for a test of 121-03 where
traders can buy for a turn higher, risk a close under 120-27 for three days in a row.
On the Upside: Resistance is at 123-05 and 123-27 then 124-09. To 124-13.
Beyond that good sellers should appear near 124-27, traders can sell at 124-27 risk a close over 125-05 for three days in a row. .
June SP 500
Support is at 1353.10
to 1351.90, a close under 1351.90 is negative and augurs for a test to
1346 under that support is at 1340 then 1337 and 1334 to 1331 where it
should hold. A close under 1334 is negative and indicates a test of 1322
and eventually the 1310 to 1304 region.
Traders should go short if a close under 1352.00 occurs.
Resistance is at 1361.5 ./ 1362.20 and 1367.70 beyond that sellers should appear near the 1377 to 1383 region , above that 1386 should cap a rally .
Stay tuned for Flashes
Dow Jones Industrial Avg.
Support is at 10,147
and 101,36 to 10, 104. A close under 10,147 is negative and augurs for
a test of 10037 to 10021 , below that 9988 to 9977 offers support. Failure
there indicates a test of 9937 to 9921 and the 9837 region.
Resistance is near 10233 and the 10320 to 10363 region. Beyond that sellers should appear near 10470 and 10580 and cap the rally.
A ship in Harbor is Safe.. But that's not what ships are built for.
Happy Trading
Bill
April 11 1999 4:55 PM
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