FuturesCom Investment Publications
Morning Comments 3-11-1999
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Courage in a Speculator is merely confidence to act on the decision of his mind

Wed March 10, 1999

8:12 PM

On the Frenzied Forex Front

June Japanese-Yen

Support is at 8442 and 8419 to 8407, below that support is at 8375. Day traders can buy at 8376, risk 50 pts. Under that 8314 to 8300 should contain a decline in the near term.

Resistance is at 8475 and 8484 to 8499, above that sellers should appear near 8521 and 8557. Beyond that resistance is at 8628 and 8689 then 8762. 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.

June D-Mark

Support is at 5617 to 5614 and 5608. Day traders can buy at 5615, risk 20 pts.

Below that Buyers should appear near 5577 to 5553.

Resistance is at 5632 and the 5645 to 5657/ 5665 region.

Day traders can sell at 5664 for a turn lower, risk 30 pts.

June Swiss

Support is at 6917 and 6906. Day traders can buy at 6917 and hold for higher prices. Below that buyers should appear near 6871 to 6867.

Resistance is at 6937 and 6967. A close over 6919 is friendly and augurs for a test of 6990 to 7003 and 7017.

Buy Dips..

June British Pound

Support is near 1.6222 below that 1.6150 to 1.6090 should hold.

Day traders can buy at 1.6150, risk 100 pts.

Resistance is at 1.6286 and 1.6380 beyond that a test of 1.6420. is likely.

 

June Canadian Dollar

Support should appear at 6554 and 6547 Below that a test of the 6509/ 6504 and 6482 regions is likely Traders can buy at 6482 for a turn higher risk a close under 6430.

Resistance is at 6577 to 6591 and 6604. Day Traders should sell at 6591 for a turn lower, risk a 30 pts,

Precious Metals

April Gold

Support is at 293.70 and 292.80 Below that good support is at 291.

BW Traders should buy April Gold at 293.40 and hold for higher prices.

Resistance is at 296.20 and 298.A close over 297.20 is friendly and augurs for a test of 306 to 307.

Trade accordingly

May Copper

Support is at 6290 and 6240. Below that buyers should surface near 6170

Resistance is at 6390 and 6435. A close over 6435 is friendly and augurs for a

test of 6570.

April Platinum

Support is at 365.2 and 362 to 361.2.

Resistance is at 371.5. A close over is bullish and augurs for a test of 381

May Silver

On the DownSide: Support is at 522.5 below that 510 should hold.

.On the Upside. Resistance is at 528.5 Beyond that sellers should appear near 538 and 546.5 A close over 531 is friendly and augurs for an eventual test of 546. to 548

The Exciting Energies

April Crude

Nearby Support is at 1459 to 1453 and 1438. Day traders can buy at 1438 for a good bounce, risk 45 pts. Below that support is at 1426 to 1415.

.

Resistance should appear near 1477 and 1484 beyond that sellers should appear near 1501 to 1506 and 1529 to 1535. A close over 1535 augurs for a test of 1569 to 1576.

April Unleaded Gas

Nearby Support is at 4446 to 4426 Below that day traders can buy at 4390 and risk 100 pts. Under that support is at 4315 to 4304.

Resistance is at 4503 to 4514 and 4585. A close over 4585 is friendly and augurs for a test of 4695.

April Heating Oil

Support is at 3790, Day traders can buy at 3790, risk 100 pts. Below that support is at 3750. Below that support is at 3710.

Resistance is at 3920 to 3950 beyond that 3992 offers resistance.

A close over 3992 is friendly and augurs for a test of 4110.

 

The Grande Grains

May Soybeans

Support is at 472 1/2 and 470 1/4, day traders can buy at 471, risk 10 cents.

Below that support is at 464.

Nearby Resistance is at 477 1/4. A close over 477 1/4 augurs for a test of

484 and 491.

July Soybeans

Support is at 480.5 to 478 and 472.

Resistance is at 485 1/2, a close over augurs for a test of 490 and 499

July Soybean Meal

Support is at 131.9. and 130.6 below that 128.3 should hold

Resistance is at 133.6 to 134.5 and 135.5 beyond that a test of 137.5 is likely.

July Soybean Oil

Support is at 1877 and the 1869 to 1858 region.

Resistance is at 1902 to 1909 and 1925. A close over 1925 is friendly and

augurs for a test of 1977.

May Corn

Support is at 223 and 221 1/2 then 218.

Resistance is at 227 1/2 to 228. Beyond that a test of 233 is likely to occur. .

July Wheat

Support is at 280 3/4 and 279 1/2, Day traders can buy at 279 3/4, risk 7 cents.

Below that 274 1/2 should hold.

Resistance is at 285 1/2 to 286. A close over 286 is bullish and augur for a test of 291 and 2998. Trade accordingly.

 

The Satisfying Softs

May Cotton

Resistance 6221 to 6237, a close over 6237 is friendly and augurs for a test of 6320 and eventually 6500..

Support is at 6121 then 6101 to 6092 beneath that good buyers should appear near 6035 to 6023. Day traders can buy at 6035 and hold for higher prices.. Under that support is at 5985 to 5955..

May Sugar

Early support is at 601 under that support should appear near the 589 to 582

region. Day traders can buy at 589, risk 20 pts. Below that 559 and 542 to 536. should hold.

Resistance is at 609 to 618. A close over 609 is friendly and augurs for a test of the 630 to 634 region.

May Coffee

On the DownSide, support is at 106 to 105.80 Day traders can buy at 106.00 and hold for higher prices... Below that Buyers should appear near 105.10 and 104.40 Under that 103.60 to 103.20 should contain a decline..

On the Upside, Resistance is at 106.80 beyond that a test of 108.10 to 108.50 is likely. A close over 108.50 is friendly and augurs for a test of 109.20 to 110.10 . Above that a trade to 113.00 / 113.60 is likely.

Buy dips...

May Cocoa

Nearby Support is at 1203 to 1192 and 1172.

Resistance is at 1222 and 1232 to 1238.A close over 1222 is friendly

and augurs for a test 1254.

The Lively Livestock

April Cattle

Support is at 6812 and 6797 below that 6752 offers good support.

Resistance is at 6867. Beyond that sellers should appear near 6932 to 6957.

BW traders can sell at 6932 for a quick turn lower, risk a close over 7002 .

April Hogs

Resistance is at 4362 to 4372. Above that good sellers should appear near 4462. and 4487. BW Traders can sell at 4487 for a turn lower, risk as close over 4517 for three days in a row.

Support is at 4262. Day traders can buy at 4262 for a bounce, risk 50 pts. Under that buyers support is at 4175 to 4167.

Stay tuned for a flashes.

From the Frying Pan into the Fire--

May Bellies

Support is at 5137 and 5092. Below that 5067 to 5052 should hold...

Day traders can buy at 5067 and hold for higher prices... Below that 4947 to 4912 should contain a decline and bring out good buyers.

Resistance is at 5200 to 5212, an extended trade or close over 5212 is friendly and augurs for a test of the 5362 to 5392 region.

 

 

The Sensational Stock and Bond Markets

June Bonds

On The DownSide nearby support is at 120-17 and 120-13. A close under 123-13 is negative and augurs for a test of 119-13 to 119-07.

BW traders can buy at 119-04 for a turn higher, risk a close under at 118-19 for two days in a row

On the Upside: Resistance is at 121-07 and 121-13. A close over augurs for a test of 122-13 .

March SP500

On the DownSide

Support is at 1287.70 to 1287.30 and 1281.90. a close under 1287 is negative and augurs for a test of 1274 to 1272 and 1268.

On the Upside, Resistance is at 1289.00 and 1295.60 beyond that good sellers should appear near 1303.70 /1304 to 1310 and should cap the rally.

June SP 500
Support
is at 1299.90 a slip or close under 1299.90 augurs for a test of 1289 and 1286.20. Below that buyers should appear near 1276.40 and 1274 to 1268.

Resistance is at 1302.20 and 1304. Beyond that resistance is at 1310 and 1321.90 which should Cap the Rally.

Stay tuned for Flashes

Dow Jones Industrial Avg.
Support
is at 9771 and 9737 to 9721. Below that support is at 9707 under that buyers should appear near 9641 to 9625 Below that 9542 to 9526 offers support.

A close under 9737 is negative..

Resistance is near 9779. Above that 9821/ 9823 and 9837 should Cap the Rally for a bit. Beyond that resistance is at 9921 to 9937. and 9999.45

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

3-10-99 10:17 PM

Happy Trading

Bill

B W Recommended Open Pos.

Long July Bean Oil at 2098 and 2043
Long May sugar at 656

Long May beans at 493 and 471 1/2

Long May Copper 6335

Short April Cattle at 6802

Long May Cocoa at 1268

Long May Silver at 561.5 and 535
Long April Platinum at 380.10
Long June Swiss at 6957
Short March SP500 at 1253

Short June SP500 at 1283

Short June SP500 at 1304

 

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