FuturesCom Investment Publications
Morning Comments ( MC )3-18-1999
Dedicated to Excellence in Analysis of Futures Markets
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
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Experienced Since 1979 & Serving Professional and Individual Futures Traders World Wide since 1988
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Thur March 18, 1999

6:00 AM

On the Frenzied Forex Front

June Japanese-Yen

Support is at 8509, day traders can buy at 8509 , risk 50 pts. Under that 8499 to 8484 should hold.

A close under 8484 indicates a slip towards the 8406 to 8391 region. BW Traders can buy at 8391 and hold for higher prices.

Resistance is at 8570 to 8588. Beyond that resistance is at 8610. A close over 8610 augurs for an eventual test of the 8668 to 8683 and the 8762 to 8777 region.

June D-Mark

Support is at 5631 and 5596 below that 5581 should hold. Day traders can buy at 5597 and hold for higher prices.

Resistance is at 5681. Beyond that resistance is at 5710 to 5716/ 5729.

BW Traders should sell at 5716, risk a close over 5729 for two days in a row..

June Swiss

Support is at 6934 and 6919 to 6906 then 6885, day traders can buy at 6885 and hold for higher prices. Under that 6836 should hold.

Resistance is at 6984 to 7003 and 7024 then 7074 to 7088 Where sellers should
appear. Beyond that resistance is near 7130 and the 7143 to 7170 region. BW Traders can sell at 7143 and hold for lower prices.

June British Pound

Support is near 1.6150 to 1.6090 and should hold.

Resistance is at 1.6336, a close over 1.6336 augurs for a test of 1.6420 and 1.6486.

June Canadian Dollar

Support is at 6571 and 6521. Below that a test of the 6509 to 6482 region is likely. Under that support is at 6430 to 6417. BW Traders can buy at 6510 for a turn higher risk a close under 6482 for three days in a row.

Resistance is at 6593 and 6621. Beyond that Resistance is at 6659 to 6677 and 6741 to 6755 should cap a rally. BW Traders can sell at 6741 for a turn lower, risk a close over 6755 for three days in a row.

Stay tuned for Forex flashes

 

Precious Metals

April Gold

Support is at 283.50. Day Traders can buy at 283.6 for a bounce , risk

$ 4.00. Resistance is at 285.30 and 293

May Copper

Support is at 6180 and 6155 Under that support is at 6100 and 6075.

Resistance is at 6275, a close over 6275 is friendly and augurs for a

test of 6500. BW Traders should go long if a close over 6250 occurs.

April Platinum

Support is at 367.5 and 365, under that 357.5 should hold. BW traders should buy at 356.5 and hold for higher price. Below that buyers should appear near 350 to 349. Resistance is at 374.5. A close over 369.5 augurs for a test of 375 to 380 BW Traders should go long if a close over 369.5 occurs.

May Silver

On the DownSide: Support is at 499.5 and 492 then 477

BW Traders should buy at 492.5 and hold for higher prices.

On the Upside. Resistance is at 508.5 and 520. A close over 508 is friendly and augurs for a test of 539. Patience..

 

The Exciting Energies

May Crude

Support is at 1519 and 1510 to 1494 and 1485. Day traders can buy at 1494 and hold for higher prices., below that BW traders can buy at 1421, risk close under 1415 for three days in a row.

Resistance is at 1544 to 1560 beyond that sellers should appear near 1569 and 1609..

May Unleaded Gas

Support is at 4790 and 4680, day traders can buy at 4690 and hold for higher prices. under that buyers should appear near 4465 to 4430. BW Traders can buy at 4447 and hold for higher prices. Below that support is at 4380 and 4315 to 4304.

Resistance is at 4880 . A close over 4880 is friendly and augurs for a test of 5000 and 5055.

May Heating Oil

Support is at 3940 and 3890 under that BW Traders can buy at 3745 and hold for higher prices. Below that support is at 3635 and 3563 to 3553.

Resistance is a 4040 and 4135 then 4238 to 4248 and 4304 to 4315.

 

The Grande Grains

May Soybeans

Support is at 480 1/2 Below that support is at 476 to 473 and it should hold..

Resistance is at 487 and the 490.

Trade accordingly.

July Soybeans

Support is at 488. Below that good buyers should appear near 484. Under that 474 should contain any decline.

Resistance is at 494 3/4 beyond that resistance is at 503 .

.

July Soybean Meal

Support is at 132.50 to 131.90 and 130.50.

Resistance is at 134.50 and 135.50 then 138, a close over 134.60 is friendly

BW Traders can go long if a close over 134.60 occurs.

July Soybean Oil

Support is at 1893 to 1888, day traders can buy at 1895, risk 50 pts. under that buyers should appear near 1858

Resistance is at 1961 and 1993.

May Corn

Support is at 224 3/4 and 220 . BW Traders can buy at 219 and hold for higher prices. Resistance is at 229 and 235.

July Wheat

Support is at 287 1/4 and 283. under that BW Traders can buy at 275 3/4, risk a close under 268 for three days in a row.

Resistance is at 293 and 295

Trade accordingly.

The Satisfying Softs

May Cotton

On the Upside resistance 6155 and 6168 a close over 6155 is friendly and augurs for a test of 6255. Beyond that a test of 6370 is likely.

On the DownSide support is at 6105 and 6055 then 5965

Buy Dips.

May Sugar

Support is at 568 to 565 and 559.

Resistance is at 586 and 605. Beyond that resistance is at 619

May Coffee

On the DownSide, support is at 106.80 and 106.70 then 105.80 and 104.15 to 103.80 and 103.20 Below that Buyers should appear near the 102.20/ 101.80 region. Under that support is at 101.50. BW Traders can buy at 101.25 and hold for higher prices.

On the Upside, Resistance is at 107.70 and 109.20 beyond that 110.10 offers resistance , a close over 110.10 augurs for a test of 113.

Buy dips...

May Cocoa

Nearby Support is at 1218 and 1208 under that 1189 should contain

the decline for a bit.

Resistance is at 1232 to 1238. And 1258

BW Traders should go long if a close over 1238 occurs.

The Lively Livestock

April Cattle

Support is at 6652 to 6637 and 6577. BW Traders can buy at 6577 and hold for higher prices.

Resistance is at 6727 then 6742 to 6755 and 6792. BW traders can sell at 6742 for a turn lower risk a close over 6802 for two days in a row

April Hogs

Resistance is at 4102 to 4117 and 4197 then 4297. A close over 4117 is friendly

Support is at 4092 Below that buyers should appear near 4047 and 3992 then 3917.

Stay Tuned for flashes...

June Hogs

Support is at 5247 and 5252 to 5232 then 5132
Resistance is at 5332, a close over 5332 is friendly and augurs for a test of 5432.

BW Traders should go long if a close over 5367 occurs.

From the Frying Pan into the Fire--

May Bellies

Support is at 4952 to 4922 and 4837 then 4757

BW Traders can buy at 4787 for a turn higher and hold for higher prices.

Resistance is at 5057 and 5082 beyond that a test of 5142 is likely. Above that resistance is at 5227 .

The Sensational Stock and Bond Markets

June Bonds

On The DownSide nearby support is at 121-16 then 121-00 A close under 121-15 is negative and augurs for a test of 120-14 below that support is at 119-27 BW Traders can buy at 120-14 for a turn higher, risk a close under at 119-27 for two days in a row

On the Upside: Resistance is at 122-06 and 122-16 then 123-00

BW Traders can sell at 123-04 for a turn lower, risk a close over 123-11 for three days in a row. Beyond that resistance is at 123-15 and 124-07.

June SP 500
Support
is at 1304. and 1302.5 However a close under 1304 augurs for an eventual test of 1289 and 1287 to 1286.50

Resistance is at 1319 and 1324.40 Above that resistance is at 1334 to 1346.

BW Traders should go short if a close under 1302.40 occurs.

A close under 1310 is negative.

-Stay tuned for Flashes-

Dow Jones Industrial Avg.
Support
is at 9869 and 9837 to 9825. The close under 9911 was negative and augurs for a test of the 9737 to 9707 region Below that support is at 9641 to 9625.

Resistance is near 9929 and 9977 then 10,0021 to 10,037. Beyond that resistance is at 10,050.. Beyond that a test of 10,104 to 10,136 is likely.

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

3-18-99 7:32 AM

Happy Trading

Bill

B W Recommended Open Pos.

Long July Bean Oil at 2098 and 2043
Long May sugar at 656 and 586

Long July Beans at 478 3/4 and 489 1/2

Long May Copper 6335

Long May Cocoa at 1268

Long May Silver at 561.5 and 535
Short March SP500 at 1253

Short June SP500 at 1283

Short June SP500 at 1304

Long June Yen at 8599

Long June gold at 292.8 and 288.8
Long Aug. gold at 288.30

Long June hogs at 5212
Long may Bellies at 4922
Long may Cotton at 6040 and 6142
Long June British at 1.6286
Long may Coffee at 103.80 and 107.20

Long may meal at 131. 90
Long May Unleaded at 4781
Long May Heat at 3963
Long May Crude at 1515

MC Recommended Open Pos.
Long May Coffee at 106.00

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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.