FuturesCom Investment Publications
Dedicated to Excellence in Analysis of Futures Markets
Morning Comments 2-19-1999
Bonds.. SP500..
 Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
Featuring Bi-Weekly Investment Outlooks, Special Reports, Morning Comments and More
Experienced Since 1979 & Serving Professional and Individual Futures Traders World Wide since 1988
5845 Autumn Ridge Rd Lake Worth Florida 33463 561-433-2995 http://www.futurescom.com


Make a Plan and Trade it

Friday Feb. 19 1999

3:30 AM

On the Frenzied Forex Front

March Japanese-Yen

Support is at 8332 then 8314 to 8292. Below that 8227 offers support.

Resistance is at 8391 to 8406 and 8422.

March D-Mark

Support should appear near 5716 to 5710 region where day traders can buy at 5716, risk 20 pts. Below that Buyers should appear near 5667 to 5653

Nearby Resistance is at 5740 and 5767 then 5807 to 5817. A close over 5807 is friendly and augurs for a test of 5855 to 5880. Beyond that a test of 5945 to 5957 is likely.

BW Traders should go long if a close over 5832 occurs. Trade Accordingly.

March Swiss

Support is at 7003 and 6990 Below that 6965 should contain a break today.

Resistance is at 7015 to 7023 and 7038. Beyond that resistance is at 7065.

March British Pound

Support is near 1.6312 and 1.6250. a close under 1.6238 augurs for a slip towards 1.6150 where BW Traders can buy at 1.6150, risk a close under 1.6090 for three days in a row.

Resistance is at 1.6420, a close over 1.6420 is friendly and augurs for a test of 1.6550 to 1.6612. Beyond that 1.6720 offers resistance, BW traders should sell at 1.6720 for a turn lower. Risk a close over 1.6780 for two days in a row.

BW Traders should go long if a close over 1.6358 occurs. Eventually we see a rally to 1.6550 ....be long.

March Canadian Dollar

Support should appear at 6723 and 6696 Below that 6673 to 6659 should hold .

Resistance is at 6743 and 6762.. Day Traders can sell at 6746, risk 30 pts. However a close over 6755 is friendly and augurs for a test of 6809 to 6836 then 6906.

BW Traders should go long if a close over 6755 occurs.

 

Precious Metals

April Gold

Support is at 287.60 then 285.5 and 283 where it should hold. A close under 283 augurs for a test of 279 to 276. BW Traders can buy at 277.6 risk a close under 275.7 for three days in a row.

Resistance is at 289.7 and 292.8 However a close over 290.0 augurs for a test of 296.8 and 299. where good resistance remains. Beyond that resistance is at 309.

BW Traders should go long if a close over 293.7 occurs.

May Copper

Support is at 6255 and 6165 Below that 6020 should contain the decline...

Resistance is at 6335 to 6365 /6375, a close over 6365 augurs for a test of 6565 beyond that sellers should appear near 6730. BW Traders can sell at 6730, risk a close over 6755 for three days in a row.

April Platinum

Support is at 374 to 373. Below that support is at 369.5.

Resistance is at 380.5 and 385. BW Traders can sell at 382 for a turn lower. Risk a close over 390.5 for three days in a row. ...

May Silver

On the DownSide: Nearby Support is at 551 and 546. Day traders can buy at 542 for a bounce stay tuned... On the Upside. Resistance is at 557 then 565 A close over 565

is friendly and augurs for an eventual test of 572.5 and 583

BW Traders should go long if a close over 572.5 occurs.

Buy Dips

The Exciting Energies

April Crude

Nearby Support is at 1192 then 1178 and 1169 Day Traders can Buy at 1178 , risk 20 pts. Resistance is at 1203 /1206 and 1228 to 1232 to 1238 However close over 1217 is friendly and indicates a test of 1268 to 1274 then 1304 to 1319. Beyond that traders can go short at 1334, risk a close over 1347 for three days in a row.

Traders should go long if a close over 1217 occurs.

 

 

BW Traders should go long if a close over 1217 occurs.

Trade Accordingly

April Unleaded Gas

Support is at 3690 3625 to 3613 where it should hold.

Early Resistance is at 3734 to 3743 and 3830 , beyond that resistance is at 3858 and 3889. BW Traders can go short at 3870 for a turn lower, risk a close over 3930 for three days in a row. Beyond that resistance is at 3992 and 4150.

April Heating Oil

Support is at 2955 to 2920, BW Traders can buy at 2920, risk a close under 2870 for three days in a row. Below that 2775 offer support and should stop a decline.

Resistance is at 3151 and 3205. Beyond that resistance is at 3325 and the 3430 region... BW Traders can sell at 3430 for a turn lower ,risk a close over 3445 for three days in a row.

Trade Accordingly.

The Grande Grains

May Soybeans

Support is at 485 then 482 to 477 should hold.

Resistance is at 490.5 and 493 1/2 A close over is 490.5 friendly and augurs for an eventual test of 511 and most likely 523.

Stay Tuned for Flashes...

July Soybean Meal

Support is at 130.4 and 129.5. Below that 127.5 and should hold.

BW Traders can buy at 127.5 risk a close under 123 for three days in a row.

Resistance is at 133.6. beyond that resistance is near 136.70 to 138.

BW Traders should go long if a close over 133.6 occurs. Risk a close under 130.4 for two days in a row.

July Soybean Oil

Support is at 1982 and 1958 Day traders can buy at 1958 for a bounce , risk 30 pts.

Resistance is at 2022 then 2032 to 2042, a close over 2022

May Corn

Support is at 219 3/4 then 216. BW Traders can go long at 216 for a turn higher, risk a close under 211 for two days in a row.

Resistance is at 225 3/4. A close over 225 3/4 is friendly and augurs for a test of the 229 to 231 region. Traders can go short at 230 for a quick turn lower, risk a close over 232 3/4

July Wheat

Support is at 274 3/4 to 272 1/2. Day traders can buy at 275, risk 4 cents Below that 269 offers support

Resistance is at 280 1/2 and 284. Beyond resistance is near the 292 region.

BW Traders should go long if a close over 279 1/2 occurs.

Trade accordingly.

The Satisfying Softs

May Cotton

Resistance should appear near 5835 and 5852. Beyond that 5935 offers resistance.

Support is at 5745 and 5655. BW Traders can go long at 5680, risk a close under support at 5535 for three days in a row..

May Sugar

Support is at 634 to 630 and 621.. Below that 609 to 601 should hold.

Resistance is at 658 and 661,a close over 662 is friendly for a test of 704 to 712

May Coffee

On the DownSide, support is at 104.10 and 103.80 to 103.20 and 101.65

On the Upside, Resistance is at 105.10 then 105.80. to 106.80 beyond that a test of 108.10 is likely....

Trade Accordingly.

May Cocoa

Support is at 1310 to 1304 and 1282 below that BW traders can buy at 1268 for a turn higher, risk a close under 1232 for three days in a row.

Resistance is at 1334 and 1346 Beyond that resistance is at 1354 and 1382,

BW Traders can sell at 1377, risk a close over 1383 for three days in a row.

The Lively Livestock

April Cattle

Support is at 6632 and 6597 below that 6522 should Hold.

Early Resistance is at 6672 and 6747 and 6782. BW Traders can sell at 6802 for a turn lower. Risk a close over 6882 for two days in a row.

April Hogs

Resistance is at 4567 to 4577 Day traders can sell at 4572 for a turn lower ... stay tuned... Beyond that resistance is at 4667 and 4692 BW Traders can sell at 4692 for a turn lower, risk as close over 4727 for three days in a row.

Support is at 4467 Below that support is at 4427 then 4367.

From the Frying Pan into the Fire--

March. Bellies

Support should appear near 5362 and 5347. Below that support is at 5267 and 5212

Below that 5137 offers support.

BW Traders can buy at 5137 and hold for higher prices.

Resistance is at 5417 an extended trade over augurs for a test of 5512. Beyond that resistance is at 5637 and 5652.

 

The Sensational Stock and Bond Markets

March Bonds

On The DownSide nearby support is at 122-30, a close under 122-30 augurs for a test of 122-16 to 122-10 and 121-16 BW traders can buy at 121-16 for a turn higher, risk a close under 121-06 for two days in a row..

On the Upside: Resistance is at 123-16 and 123-28 Beyond that resistance is at

124-13.

March SP500

On the DownSide

Support is at 1238.00 and 1237.80 below that 1235 to 1232 offers support as does 1228.60 where it should hold. However a close under 1232 is negative and augurs for a test of 1218.40 to 1218.

On the Upside, Resistance is at 1244.50 and 1249.50 then 1253 to 1257.20 and 1268

Stay tuned for Flashes

Dow Jones Industrial Avg.
Support
is at 9239 and 9156 to 9140 and 9129... Below that support is at 9087 and the 9060 to 9044 region. Below that 8964 should hold.

Resistance is near 9316 then 9347 and 9357. A close over 9347 is friendly and augurs for a test of 9429 to 9445.

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

Fri. Feb. 19 1999

5:09 AM

Happy Trading

Bill

Recommended Open Pos.

Long May Silver at 560, 555 and 531

Long April gold at 288.3

Long April Unleaded at 3670

Long May coffee at 106.80 and 103.80
Long July Bean Oil at 2098 and 2043
Long May sugar at 656,

Long May beans at 493

Long March Yen at 8391

Long May Copper 6335

Long March Bellies at 5352

 

Copyright@1999 FuturesCom Investment Publications

All Rights Reserved

FuturesCom is Not Responsible for Transmission Errors and Omissions.

 

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.

Recommended Open Pos.

Long May Silver at 560, 555 and 531
Long April gold at 288.3
Long April Unleaded at 3670
Long May coffee at 106.80 and 103.80
Long July Bean Oil at 2098 and 2043
Long May sugar at 656,
Long May beans at 493
Long March Yen at 8391
Long May Copper 6335
Long March Bellies at 5352