5:35 PM 1-22-1998
On the Frenzied Forex Front
March J-Yen ,
Support is at 7886 and 7864. Resistance is near 7920 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 6783
Support should appear at 6836 and 6820 Resistance is 6870 and 6906 to 6919
March British:
Support is at 164.20 and 163.36 resistance is at 165.50 and 166.10
The close over 164.20 augurs for a test of 165.10 and eventually 167.40.
March D-Mark Recommended Position, long 1 at 5496
Early support is at 5540 and 5521 Nearby Resistance is at 5560. Above that 5571 and 5621 and 5640
Trade Accordingly
March Canadian Dollar Recommended Position Long at 7002
Support is near the 6881 and the 6867 region A close over 6919 is bullish for a test of 7004.
Resistance is near 6918 Beyond that 6967 offers good resistance.
Precious Metals
April Gold
Support is near 292 , below that support should appear near 286 under that . 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 296.7.
Buy Dips and Hold.
March Copper
Support is at 7730 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 7935 and 8130 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 376 , below that 365. Resistance is near 386 beyond that 391,
Traders should sell at 395 , risk a close over 404 for two days in a row.
Trade Accordingly
March Silver
Support is at 564 then 556.5 Below that 535 offers support Traders can Buy March Silver near 535 , risk a close under 531. Resistance is near 583 and 603
The Exciting Energies
March Crude Recommended Position Long at 1656
Early support is at 1583 and 1574 . Resistance should appear near 1622 and 1633
A close today over 1622 is friendly.
Feb. Unleaded Gas Recommended Position Long at 5125
Early support is near 4895 below that 4855.
Resistance is near 4982. A close over 5000 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 4540 and 4515. Resistance is near 4605 and. A close over 4580 is friendly and augurs for a test of 4745 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 677 and 679 A close over 684 is bullish for a trade to 693
Support is near 669 and 6621 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 194.1 and 189.5
Resistance is near 198.5 and 200.5,
March Soybean Oil
Support is at 2561 and 2522 . Resistance is near 2561 and 2612. Traders should sell at 2612 for a turn lower risk 100 pts.
March Corn
Support is at 273 1/2 and 271. Resistance is near 276 and 281.
March Wheat
Support is at 328 3/4 and 322..
Resistance is near 332 1/2 and 340 .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 6541 and 6477 below that buy at 6424 risk 100 pts. Resistance is at 6591 and 6640
Trade accordingly.
March Sugar Recommended Position Long at 1203 and 1169
Support is at 1125 and 1108. Resistance is 1130 to 1136. beyond that 1153
The close over 1125 is friendly for a test of 1153 to 1165
March Coffee
On the Upside ,Resistance is near 17745 and 178.45. Beyond that 17990 offers firm resistance.
Support is near 174.95 to 173.45. 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 1578 to 1568 , under that 1535 ..
The Lively Livestock
Feb. Cattle Recommended Position, long at 6622
Support is near 6557 .and 6497 Sellers should appear near 6632 and 6647
April Live Cattle Recommended position long at 7170,7150,7130 and 3 at 6845 (avg. 6997)
Support is 6807 and 6785 below that 6767 should hold. Resistance is near 6845 and 6902
A close over 6845 indicates a test of 6902. .
Still Friendly
Trade Accordingly.
Feb. Hogs
Support is near 5855 and 5787 Resistance is near 5888 to 5895.
A close over 5895 is Bullish.
April Hogs
Support is at 5777 and 5712 Resistance is 5815 and 5872. A close over 5815 is friendly for a trade to 5872. and 5907
Recommended Spread Position, Long April Short June Hogs, 5 at 817 and 5 at 757
(April under June) Hold with a target of 600 or lower.
Feb. Bellies Recommended Position Long at 5622 , 3 at 5447 , 4 at 5090, 4 at 4650
Resistance is at 4942. A close over 4942 is friendly for a trade to 5160.
Support is at 4857 to 4837 , below that 4797 and 4722.
The Sensational Stock and Bond Markets
March Bonds
Near Term support is at 121-23 and 121-06 offer support.
Resistance is 122-06 and 122-11 with 123-06 above that.
A close under 121-23 is negative
March SP500 Recommend Position Short at 944.00, 954,958.40 , 970.50
On the Downside ,Support is near 964.10 and 962.50 under that 957.40 offer support , under that 954.20 to 952.60 should trade.
On the Upside Resistance should appear near 970.85 an 972.10 with 973.70 beyond that. ..higher up 977.90 offers good resistance as does 982.10 to 983.70/ 983.90 and 986.60.
Trade Accordingly
Stay tuned for new trades designed
to take advantage of moves in either direction.
The Dow Jones Industrial Average (cash)
Support is 7689 and is critical basis the close. Below that 7574 and 7532 along with 7462/ 7457 offer some support. Resistance is near 7777 and 7804 beyond that 7881 and 7935 to 7939 .
Happy Trading
Bill
Thur January 22, 1998
7:05 PM
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