From: "FuturesCom" To: "FuturesCom" Subject: Morning Comments 3-25-1999 Date: Wednesday, March 24, 1999 6:54 PM FuturesCom Investment Publications Morning Comments (MC) March 25, 1999 Dedicated to Excellence in Analysis of Futures Markets Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs Featuring Bi-Weekly Investment Outlooks, Special Reports, Morning Comments Experienced Since 1979 & Serving Professional and Individual Futures Traders World Wide since 1988 5845 Autumn Ridge Rd Lake Worth Florida 33463 USA 561-433-2995 Wed March 24, 1999 5:30 PM On the Frenzied Forex Front June Japanese-Yen Support is at 8560 and 8542 and 8499 to 8484 under that 8455 should hold. Resistance is at 8575 to 8589 and the 8629 to 8642 region. Beyond that resistance is at 8668. June D-Mark Support is at 5577 to 5568 and 5561 then 5553 day traders can buy at 5553 and hold for higher prices. Resistance is at 5598 and 5640 to 5655. 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 6871. Below that that 6851 to 6836 offers good support and should contain a stop a decline. Day traders can buy at 6836 and hold. Resistance is at 6901 to 6905 and 6919 beyond that resistance is at 6940 and 6953 then 6990 to 7003. June British Pound Support is near 1.6336 and 1.6276 under that 1.6150 to 1.6090 should hold. Day traders can buy at 1.6150 and hold for higher prices Resistance is at 1.6420 and 1.6486 June Canadian Dollar Support is at 6591 and 6577. Under that 6560 offers good support. A close under 6588 augurs for a test of the 6509 to 6482 region. BW Traders can buy at 6510 for a turn higher risk a close under 6482 for three days in a row. Resistance is at 6638 and 6659 to 6677. Above that 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 283.30 and 282.5, day traders can buy at 283.3, risk $2.00 Resistance is at 286.8 and 289.4 May Copper Support is at 6430 to 6415, below that 6215 should hold. Resistance is at 6575 and 6615, close over 6615 is friendly and augurs for a test of 6800. April Platinum Support is at 371, under that 367 should hold. Resistance is at 375 and 378. Be Long May Silver On the DownSide: Support is at 504.5 and 499 then 492 BW Traders should buy at 492.5 and hold for higher prices. Under that 487 should contain a break. On the Upside. Resistance is at 509.5. A close over 510. is friendly and augurs for a test of 535. Be Long. The Exciting Energies May Crude Support is at 1527 . Below that the 1502 and the 1492 region should hold day traders can buy at 1496 and hold..Under that BW traders can buy at 1421, risk close under 1415 for three days in a row. Resistance is at 1542 to 1552 and 1575/ 1576 and 1598 to 1609. May Unleaded Gas Support is at 4717 and 4640 Day traders can buy at 4725 and hold for higher prices.. Resistance is at 4915 and 5015 beyond that a test of 5105 to 5135 is likely. May Heating Oil Support is at 4006 and 3950 . Under that support is at 3895 below that BW Traders can buy at 3745 and hold for higher prices. Resistance is a 4155 and 4205 then 4325.. The Grande Grains May Soybeans Support is at 483 3/4. Day traders can buy at 484 and hold for higher prices. Below that support is at 476 and 469. Resistance is at 490 and 497 then 502 Trade accordingly. July Soybeans Support is at 492 day traders can buy at 492 3/4, risk 10 cents , below that 488 and 479 should hold. Resistance is at 504 beyond that resistance is at 506 and 509 . July Soybean Meal Support is at 133.8. and 131.80 Resistance is at 137.5 and 140 July Soybean Oil Support is at 1953 to 1946 under that day traders can buy at 1910 and hold for higher prices. Below that 1902 should hold. Resistance is at 1982 and 2010 then 2034 May Corn Support is at 226 1/2. Under that support is at 222. to 220 Resistance is at 230 1/2 and 232 then 234. July Wheat Support is at 279 and 276. BW traders can buy at 275 3/4, risk a close under 268 for three days in a row. Resistance is at 282 1/2 a close over 283 is friendly and augurs for a test of 288. The Satisfying Softs May Cotton On the Upside resistance 6189 and 6215 then 6290. On the DownSide support is at 6113 to 6101, day traders can buy at 6105 and hold for higher prices under that support is at 6085 and 6020 May Sugar Support is at 542 and 538 to 532 below that 526 should hold. . Resistance is at 559 to 562 and 582 May Coffee On the DownSide, support is at 100.50 to 99.70 and 9910 where it should hold. On the Upside, Resistance is at 102.35 then 103.20 to 103.80 a close over is friendly 103.80 for a test of 104.90 to 105.10 and eventually 108 May Cocoa Support is at 1175 and 1164 then 1125 Resistance is at 1186 then 1192 to 1203 and 1225. The Lively Livestock April Cattle Support is at 6657 and 6617 and 6587 BW Traders can buy at 6577 and hold for higher prices. Below that 6512 should contain a decline. Resistance is at 6717 and 6737 then 6767. April Hogs Resistance is at 4427 , day traders can sell at 4427 , risk 100 pts. Beyond that resistance is at 4502 and 4527 Support is at 4332 and 4287 then 4232 where it should hold. Stay Tuned for flashes... June Hogs Support is at 5507 then 5467 under that 5382 should hold. Day traders can buy at 5382 and hold for higher prices. Resistance is at 5567 and 5582 then 5667 and 5707. >From the Frying Pan into the Fire-- May Bellies Support is at 5502 and 5432 below that support is at 5397 and 5322 Resistance is at 5547 and 5622 then 5697 to 5702 and 5807. The Sensational Stock and Bond Markets June Bonds On The DownSide nearby support is at 121-03 and 120-25 to 120-19 under that BW Traders can buy at 120-14 for a turn higher, risk a close under at 119-27 for two days in a row. Below that 119-17 should hold. On the Upside: Resistance is at 121-19 Beyond that resistance is at 121-31 and 122-19 to 122-25. June SP 500 Support is at 1274 to 1273.30 and 1271 then 1268 a close under 1268 augurs for a test of 1255.40, day traders can buy at 1255.50 for a bounce and hold for higher prices.. Put your own risk on it. Below that support is at 1253 a close under 1253 is negative and augurs for a test of 1238 to 1232 Resistance is at 1285.10 to 1286.60 and 1287.50 to 1289 day traders can sell at 1287.50 and hold for lower prices. Beyond that 1391.70 offers good resistance as does 1304 and 1307 Above that 1310 should Cap a Rally. Stay tuned for flashes.. Dow Jones Industrial Avg. Support is at 9641 to 9625 .and 9542 to 9525 , a close under 9525 is negative and augurs for a test of 9445 to 9429 Resistance is near 9677 and 9707 to 9737 beyond that sellers should appear near 9787 then 9823 to 9837 and 9921. A ship in Harbor is Safe.. But that's not what ships are built for. 3-24-1999, 6:48 PM Happy Trading Bill B W Recommended Open Pos. Long May sugar at 586 Long June Yen at 8599 Long June gold at 292.8,288.8 Long Aug. gold at 288.30 Long may Cotton at 6142 Long may Coffee at 103.80,107.20, 101.25 Long April platinum at 371.7 short April hogs at 4377 MC Recommended Open Pos. Long May Coffee at 106.00 Long 2 May Coffee at 102.00 Short May Bellies at 5685 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.