FuturesCom Investment Publications
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Morning Comments 1-14-1999
Bonds.. SP500..
 Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
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 Serving Professional and Individual Futures Traders World Wide since 1988
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01/14/99
5:47 AM

On the Frenzied Forex Front

March Japanese-Yen

Nearby Support is at 8856, Below that support is at 8817 and 8777 where traders should buy for a good bounce, risk a close under 8734 for three days in a row. If that fails a dip towards 8690 and 8595 to 9589 and 8560 is likely Traders should buy at 8589 and hold for higher prices.

Resistance is at 8964, an extended trade over 8964 augurs for a test of 9022 and 9059.. Beyond that 9140 offers resistance.

March D-Mark

Early Support is at 5925 and 5882 to 5875, day traders can buy at 5882 for a bounce risk 35 pts. Below that support is 5832

Resistance is at 5982 to 5990. Beyond that resistance is at 6023 to 6035 day traders can sell at 6023 for a turn lower , risk 50 pts ..

March Swiss

Nearby Support is at 7342 and 7328 region which should hold. Day traders can buy at 7328 for good turn higher, risk 50 pts.

Early Resistance is at 7384 to 7395 and 7414 to 7428 then 7495.

March British Pound

Nearby Support 1.6420 to 1.6368. Resistance is at 1.6550 and 1.6640.

March Canadian Dollar

Early Support should is at 6509 to 6477 and 6462 Resistance is at 6559 and 6610

Precious Metals

Feb. Gold recommended position long at 286.4

Support is at 285.20 and 283.10 Resistance is at 288.90 to 291.

April gold Long 2 at 295.70 Hold

 

March Copper:

Support is at 6645 and 6510
Resistance is at 6740 to 6755 and 6845, Beyond that resistance is near 6910 and 7040.

April Platinum recommended position long at 366.5 and 362.5

Early Support should appear near 352.5 and should contain a break.

Below that 348 should hold.

Resistance is at 357.5 a close over is friendly and augurs for an eventual test of 367.5.

March Silver recommended position long at 525

On the DownSide: Nearby Support is at 513 and 509 where it should hold.
On the Upside. Resistance is at 525 and 533 beyond that 553 to 555 is likely to trade . Buy Dips..

The Exciting Energies

Feb. Crude

Nearby Support is at 1222 and 1203 then 1184

Resistance is at 1252 and 1284 beyond that 1300 to 1302 and 1334 to 1346 offer resistance Trade Accordingly

Feb. Unleaded Gas

Support is at 3585 and 3475.

Resistance is near 3780 Beyond that sellers should appear near 3835 .

Feb. Heating Oil

Nearby Support is at 3365. Traders can buy at 3365, risk a close under 3260 for three days in a row. Below that 3157 offers support.

Resistance is at 3445.A close over is friendly and augurs for a test of 3493 and 3520 and eventually 3625.a close over 3625 indicates a push towards 3745 and 3855.

Trade Accordingly.

 

The Grande Grains

March Soybeans

Support is at 529 3/4 and 522 1/4 below that 517 should contain the break

Resistance is at 536 3/4 and 543.

March Soybean Meal

Support is at 133 and 132.60 to 129 where it should hold.

Resistance is at 134.5 and 137.8

 

 

March Soybean Oil

Support is at 2275 to 2262, traders can go long for a good turn higher at 2275, risk a close under 2251 for three days in a row. Below that 2226 should contain the decline.

Resistance is at 2348 to 2354 and 2370 then 2401.

March Corn.

Support at 213 1/2 to 212 1/2 and 211 Day traders can buy at 210 3/4 for a bounce risk 6 cents

Resistance is at 215 3/4 and 220 1/2. Day Traders can sell a rally at 220 3/4 for a quick turn lower, risk 5 cents

March Wheat recommended position long 2 at 281.

Support is at 273 3/4 where it should hold. Day traders should buy at 273 1/2 and hold for higher prices.. Below that 268 1/2 to 266 offers support.
Resistance is at 279 1/2, a close over augurs for a test of 285 1/2

The Satisfying Softs

March Cotton

Resistance should appear near 5927. A close over 5962 augurs for a test of 6025 and eventually the 6065 to 6072 region

Support is at 5827 and 5727

March Sugar

Resistance is 877 to 882 Beyond that resistance is at 904 to 912.

Day traders can sell at 911 for a turn lower risk 20 pts.

Nearby Support is at 864, below that support is at 854 to 847 and 831.

Day traders can buy at 864 for a turn higher.

Trade Accordingly

March Coffee:

On the downside, Early support is at 119.35 , aggressive day traders can buy at 119.40 under that support should appear near 116.90/ 116.70 to 116.40 Where day traders can buy for a bounce at 116.70. Additional support should appear at 115.00 and 114.20 below that, the 113.60 to 113.00 region should hold.

On the Upside, Resistance should appear near 121.55 to 121.85 and 122.30. A close over 121.85 is friendly and augurs for another test of 124.80

Buy Dips

March Cocoa recommended position short at 1383

Support is at 1369, below that support is at 1346 to 1340 and 1326 to 1319. Traders can buy at 1346 for a turn higher, risk a close under 1304 for three days in a row.

Resistance is at 1383 and 1419, Beyond that resistance is at 1426 and 1440. Traders can sell short at 1444 and hold for lower prices.

 

The Lively Livestock

April Cattle

Resistance is at 6512 and 6587. Day Traders can sell at 6587 for a quick turn lower,

Support is at 6442 and 6367

Feb. Hogs

Support is at 3955 and 3857

Resistance is at 4057 and 4157.

April Hogs recommended position short at 4307

Resistance is at 4352 and 4382 then 4452 Day traders can sell at 4452 for a good turn lower, risk 90 pts

Support is at 4252 and 4182 to 4152.

From the Frying Pan into the Fire--

Feb. Bellies recommended position short 2 at 5152

Nearby Support should appear near 5282 and 5132, a close under 5127 is negative.

Resistance is at 5432 where hearty traders can sell for a turn lower Beyond that good sellers should appear near the 5587.

 

The Sensational Stock and Bond Markets

March Bonds

On The DownSide, support is at 12516 and 125-02 to 124-30 Day traders can buy at 125-01, risk 10 ticks.

On the Upside: Nearby Resistance is at 126-01 and 126-16 then 126-30 to 127-02.

March SP500

On the DownSide, Nearby Support at 1238. Below that buyers should appear at 1234.60. Below that support is at 1232. A close under 1232 is negative and indicates another test of 1225.00 and the 1218 region Below that 1203 to 1192 should hold for a bit. Traders should go short if a close under 1238 occurs.

On the Upside, Resistance is near 1250.80 and 1253 then 1257.30 , beyond that resistance is at 1263 and 1266.50 to 1268 , Day traders can sell at 1268 and hold for lower prices, put your own risk on it.. Beyond that resistance is at 1271 and 1275 , beyond that 1282 offers good resistance. .

Dow Jones Industrial Avg.

Support is at 9347 to 9316 under that support is at 9226 and 9143.

Resistance is near 9426 to 9445 then 9526 to 9542.

A ship in Harbor is Safe.. But that's not what ships are built for.

Happy Trading

Bill

01/14/99 7:24 AM

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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 IS 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.