4:35 AM
On the Frenzied Forex Front
March J-Yen ,
Support is at 7777 and 7741. Resistance is near 7873 and 7939 A close over 7954 augers for a trade, to 8167 Beyond that 8194 to 8223 is likely. Sell Short at 8223 for a turn lower, risk a close over 8316 for three days in a row.
March Swiss Franc Recommended Position long at 6823 ,6795 ,6783
Support should appear at 6713 and 6673 where long term traders should have buy orders waiting to Buy at 6675 for the 'Pull'. Resistance begins at 6750 beyond that 6763. More resistance remains near 6813.
A close over 6741 is friendly
March British:
Support is at 161.50 below that 160.90 should hold . Beneath that, buy at 158.80, risk a close under 157.60 for three days in a row.
Resistance is near 162.40 and 163.10 with 164.20 beyond that .
A close over 164.20 augurs for a test of 165.10 and 167.40.
March D-Mark Recommended Position, long 2 at 5496
Early support is at 5464 and the 5430 to 5411 region where day traders can buy at 5411 for a bounce, risk a trade under 5400. Nearby Resistance is at 5474 with 5504. Above that A close over 5469 augurs for a test of 5504 to 5514
Trade Accordingly
March Canadian Dollar Recommended Position Long at 7002
Support is near the 6932 region and 6919 A close over 6961 is bullish for a test of 7004.
Resistance is near 7005 to 7010 . Beyond that 7052 offers good resistance.
Precious Metals
April Gold
Support is near 286 , below that support should appear near 275. Buy at 274. Risk $ 3.00 Resistance is 295. A close over 296 augurs for a rally back to 317
Traders should seriously consider Buy April gold if it closes over 293.7.
Buy Dips and Hold.
March Copper
Support is at 7690 and 7620 , Below that 7520, beneath that 7355 should stop the decline , go long March Copper at 7355 for a turn higher , risk a close under 7320.
Resistance is at 7860 and 7715 , beyond that 7915
Way Above that traders should sell at 8480 risk a close over 8510 for three days in a row.
April Platinum
Nearby support is near 374 , below that 365. Resistance is near 384 beyond that 395,
Traders should sell at 395 , risk a close over 404 for two days in a row.
Trade Accordingly
March Silver
Support is at 563 then 556.5 Below that 535 offers support Traders can Buy March Silver near 535 , risk a close under 531. Resistance is near 596 and 598 above that 604 offer resistance
The Exciting Energies
March Crude Recommended Position Long at 1656
Early support is at 1640 to 1630. Resistance should appear near 1678 and 1690
A close today over 1678 is friendly.
Feb. Unleaded Gas Recommended Position Long at 5125
Early support is near 5030 below that 4950.
Resistance is near 5140. A close over 5100 augurs for a trade to 5250 beyond that Sell at 5575 for a quick turn , risk a close over 5655 for two days in a row.
Feb. Heating Oil Recommended Position , long at 4930 and 4650
Support should appear near 4570 and 4515. Resistance is near 4705 and. A close over 4715 is friendly and augurs for a test of 4930 Beyond that Sell at 5340 risk a close over 5360 for two days in a row.
The ‘Grande’ Grains
March Beans: Recommended position Long at 667.
Resistance is at 675.5 and 682 A close over 682 is bullish for a trade to 689
Support is near 668 and 661 1/2 A close under 654 indicates a drop to 648, traders can buy for a 'Bounce' at 648 risk a close under 638 for two days in a row.
Trade Accordingly
March Soybean Meal
Support should appear at 193.8 and 189.5
Resistance is near 198.5 and 200.5,
March Soybean Oil Recommended Position Long at 2473
Early support is at 2570 and 2518 . Resistance is near 2612 to 2620. Traders should exit longs and sell at 2612 for a turn lower , risk 100 pts.
March Corn
Support is at 275 1/2 and 270 1/2 .Resistance is near 280 1/2 and 285 1/4 .
March Wheat
Support is at 327 3/4 and 324..
Resistance is near 333 3/4 and 339 3/4 .A close over 334 augurs for a trade to 345
Trade Accordingly
The Satisfying Softs
March Cotton Recommended Position long at 6590
Support is at 6628 and 6605 below that buy at 6424 risk 100 pts. Resistance is at 6677 and 6705.
Trade accordingly.
March Sugar Recommended Position Long at 1203 and 1169
Support is at 109 to 1101 and 1081. Resistance is 1121 to 1125 , beyond that and 1130 to 1136.
A close over 1125 is friendly for a test of 1161
March Coffee
On the Upside ,Resistance is near 179.05 and 179.70 . Traders should Sell at 179.90 risk a close over 81.00 for two days in a row. Beyond that 181 offers resistance as does 183.30.
Support is near 17720 to 175.80 . Below that 174.70 to 174.05. Beneath that 172.80. Under that 165.50 and 159.05 should attract a few buyers. A close under 156.50 augurs for a slip to the 152.90 region. Beneath that 150.50 to 148.10 offer support. Traders can go long at 149.60 , risk a close under 145.10 for three days in a row.
Trade accordingly
March Cocoa Recommend Position Short at 1576
Resistance is near 1609 to 1615 offers resistance. Beyond that 1624 offers resistance.
Support is near 1577 to 1574 , under that 1535 ..
The Lively Livestock
Feb. Cattle Recommended Position, long at 6622
Support is near 6577 .and 6555 Sellers should appear near 6622 and 6657
April Live Cattle Recommended position long at 7170,7150,7130 and 3 at 6845 (avg. 6997)
Support is 6837 and 6807 below that 6772 should hold. Resistance is near 6907 and 6917
A close over 6907 indicates a test of 6987. .
Trade Accordingly.
Feb. Hogs
Support is near 5722 to 5717 and 5677 and 5655 Resistance is near 5774 5792 to 5805.
A close over 5805 is friendly.
April Hogs
Support is at 5562 to 5552. resistance is 5642 to 5657. A close over 5662 is friendly for a trade to 5722. and 5760
Recommended Spread Position, Long April Short June Hogs, 5 at 817 and 5 at 757
(April under June) Hold.
Feb. Bellies Recommended Position Long at 5622 , 3 at 5447 , 4 at 5090, 4 at 4650
Resistance is near 4845 and 4855 , beyond that 4935. A close over 4867 is friendly.
Support is at 4717 to 4702 , below that 4695 and 4635.
The Sensational Stock and Bond Markets
March Bonds Recommended Position Short at 121-21 and 123-05
Near Term support is at 121-27, below that 121-22 and 121-04 offer support.
Resistance is 122-04 and 123-27
A close under 121-22 is negative-
March SP500 Recommend Position Short at 944.00, 954,958.40 , 970.50
On the Downside ,Support is near 977.90 and 975.90 and 973.70 , below that 970.60 is critical , a close under is negative. Some buyers may appear at 968.20, under that 964.10 and 962.50
On the Upside Resistance should appear near 982.10 to 983.70/ 983.90 and 986.60. Traders Sell at 986.20, stay tuned for the stop. Beyond that 987.70 should cap a rally. If not at test of 992.10 to 993.70 is likely.
A close under 983.70 is negative., a close under 977.90 augurs for a test of 973.70 and 970.60.
Trade Accordingly
Stay tuned for new trades designed
to take advantage of moves in either direction.
The Dow Jones Industrial Average (cash)
Support is 7854 to 7834 , under that 7810 and 7777 offer support. Beneath that 7740 and 7689 are critical areas basis the close. Below that 7574 and 7532 along with 7462/ 7457 offer some support.
Resistance is near 7881 and 7935 to 7939 . A close over 7880 augurs for a test of 7934 to 7954. Beyond that 7974 and the 8029/ 8044 should cap a rally
Happy Trading
Bill
Wed January 21, 1998
5:57 AM
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