FuturesCom Investment Publications
Morning Comments (MC) March 26, 1999
Dedicated to Excellence in Analysis of Futures Markets
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"A man can have great mathematical ability and unusual power of accurate observation and yet fail in speculation unless he also possesses the experience and memory. " -Reminiscences of a Stock operator-

Thur March 25, 1999

5:45 PM

On the Frenzied Forex Front

June Japanese-Yen

Support is at 8549 and 8499 to 8484, day traducers can buy at 8484 and hold for higher prices. Under that 8455 should hold.

Resistance is at 8560 to 8589 and extended trade over 8589 augurs for a test of the 8629 and 8649 regions. Beyond that resistance is at 8668.

June D-Mark

Support is at 5553 day traders can buy at 5553 and hold for higher prices.

Below that buyers should appear near 5501 to 5492.

Resistance is at 5577 and 5601 then 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 6836. Day traders can buy at 6836 and hold. Below that support is at 68123 to 6809 under that support is at 6755

Resistance is at 6856 and 6871, a close over 6871 is friendly and augurs for a test of 6904/ 6906 and 6919 beyond that resistance is at 6938 and 6953.

June British Pound

Support is near 1.6150 to 1.6090 and should hold.

Day traders can buy at 1.6150 and hold for higher prices

Resistance is at 1.6296 and 1.6336 beyond that 1.6420 should cap a rally.

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 6629 and 6641 then 6691.

Stay tuned for Forex flashes

 

Precious Metals

April Gold

Support is at 282 and 279.5 to 277.

Resistance is at 283.6 and 287 to 289.4

May Copper

Support is at 6560 and 6525 and 6430 to 6415, Day traders can buy at 6430 for a bounce , risk 120 pts. below that 6220 should hold.

Resistance is at 6620, close over 6620 is friendly and augurs for a test of 6815.

April Platinum

Support is at 368 and 366 below that 362 should hold

Resistance is at 371.5 and 376.

Be Long

May Silver

On the DownSide: Support is at 506.5 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 512. A close over 512. is friendly and augurs for a test of 522 and 531.

Be Long.

The Exciting Energies

May Crude

Support is at 1588 to 1576 and 1554 to 1545 Day traders can buy at 1545 for a good bounce, risk 40 pts. Below that support is at 1538 and 1492.

Resistance is at 1598 to 1609 and 1642 to 1655

May Unleaded Gas

Support is at 5010 and 4922 and 4855 then 4640

Resistance is at 5105 to 5120 and 5200 to 5210 then 5282..

May Heating Oil

Support is at 4205 then 4122 and 4020 . Under that support is at 3885

Resistance is a 4267 beyond that resistance is at 4300 to 4315 and 4370 to 4380 and 4410. .

The Grande Grains

May Soybeans

Support is at 498 1/2 and 496 1/4. Day traders can buy at 497 and hold. for higher prices. Below that support is at 492 and 485.

Resistance is at 502 then 505 to 507 and 510 1/4

Trade accordingly.

July Soybeans

Support is at 505 1/2 and 502 1/4 day traders can buy at 505 1/2, risk 10 cents .

Below that support is at 498 and 493.

Resistance is at 507 beyond that resistance is at 509 and 514

.

July Soybean Meal

Support is at 135.6. and 133.80

Resistance is at 141 and 143.3 then 145.3 to 145.9.

July Soybean Oil

Support is at 1987 and 1982, day traders can buy at 1987 and hold for higher prices. Below that support is at 1965 under that 1953 to 1946 should hold.

Resistance is at 1996 and 2014 then 2046

May Corn

Support is at 229 1/4 and 227 1/2. Under that support is at 222. to 220

Resistance is at 232 and 234 to 236.

July Wheat

Support is at 289 1/2 Day traders can buy at 289 3/4 and hold for higher prices.

Below that support is at 285 and 283

Resistance is at 295 1/2 and 301 to 302 beyond that a test of 307 is likely.

The Satisfying Softs

May Cotton

On the Upside resistance 6279 then 6296 and 6370 to 6397

On the DownSide support is at 6197 then 6165 and 6096 to 6080, Day traders can buy at 6095 and hold for higher prices.

May Sugar

Support is at 556 and 546 below that 523 should hold. .

Resistance is at 562 to 568 and 582

May Coffee

On the DownSide, support is at 103.80 to 103.20 and 102.50 where it should hold.

Day traders can buy at 102.50 and hold for higher prices.

On the Upside, Resistance is at 104.95 to 105.10 then 105.80 beyond that a test of 106.80 and 107.45 to 108 is likely. Beyond that 110.50 offers resistance.

May Cocoa

Support is at 1184 and 1175 then 1169 to 1164.

Resistance is at 1192 to 1203 and 1234 to 1238.

 

The Lively Livestock

April Cattle

Support is at 6592 and 6547 then 6517 and 6462.

Resistance is at 6612 and 6672 then 6722

April Hogs

Resistance is at 4417 and 4427 Beyond that resistance is at 4537

Support is at 4367 and 4337 then 4257 where it should hold.

Stay Tuned for flashes...

June Hogs

Support is at 5472 under that 5367 to 5357 should hold. Day traders can buy at 5372 and hold for higher prices.

Resistance is at 5572 then 5582 beyond that resistance is at 5712

From the Frying Pan into the Fire--

May Bellies

Support is at 5612 and 5547 below that support is at 5432 to 5402

Resistance is at 5697 and to 5702 and 5807. then 5847.

 

The Sensational Stock and Bond Markets

June Bonds

On The DownSide nearby support is at 120-20 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 119-20 and 118-24 should hold.

On the Upside: Resistance is at 120-24 Beyond that resistance is at 121-04 then 121-20 and 121-31

June SP 500
Support
is at 1295 and 1292 under that critical support is at 1289 to 1287.60 a close under 1287.60 is negative and augurs for a test of 1274 to 1271 and 1268. A close under 1268 augurs for a test of 1255.40.

Resistance is at 1304 and 1307 then 1310 to 1312.70 Above that resistance is at 1319.60 and should Cap a Rally for a bit.

Stay tuned for flashes..

Dow Jones Industrial Avg.
Support
is at 9821 and 9777 under that support is at 9737 to 9707 then 9641 to 9625 .and 9542 to 9525

A close under 9707 is negative and augurs for a test of 9445 to 9429

Resistance is near 9837 and 9921 to 9937 . Beyond that 10019 to 10021 should cap the rally for a bit.

A ship in Harbor is Safe.. But that's not what ships are built for.
Our Next Bi-Weekly Investment Outlook ( BW) will be issued over the weekend

3-25-1999, 6:45 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

Long April Cattle at 6577

MC Recommended Open Pos.
Long May Coffee at 106.00

Long 2 May Coffee at 102.00
Short May Bellies at 5690

Short June SP500 at 1287.50

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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.