FuturesCom Investment Publications
Morning Comments 3-09-1999
Dedicated to Excellence in Analysis of Futures Markets
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
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Monday March 8, 1999

5:12 PM

 

On the Frenzied Forex Front

June Japanese-Yen

Support is at 8314 to 8300 and 8271 to 8261 which should contain a

Decline in the near term. Day traders can buy at 8314 and hold for higher prices..

Resistance is at 8353 and 8361 beyond that a test of 8391 to 8406 is likely..

Beyond that resistance is at 8420 and 8484.

June D-Mark

Support is at 5577 Below that Buyers should appear near 5557 to 5547

Resistance is at 5607. An extended trade or close over 5607 augurs for a test of the 5645 to 5657 region. Day traders can sell at 5647 for a turn lower, risk 30 pts.

June Swiss

Support is at 6894 then 6871 and 6860. Day traders can buy at 6871 for a bounce, risk 30 pts. Below that support is at 6836 to 6832.

Resistance is at 6910 to 6919 region. Beyond that a test of 6932 is likely.

A close over 6919 is friendly and augurs for a test of 6960 and eventually 6990 to 7003.

June British Pound

Support is near 1.6038 below that 1.5938 should hold..

Resistance is at 1.6090 and 1.6150 then 1.6238..

June Canadian Dollar

Support should appear at 6597 and 6591 then 6577.

Resistance is at 6622 and 6647 then 6677. BW Traders should sell at 6677 for a turn lower, risk a close over 6715 for two days in a row.

Precious Metals

April Gold

Support is at 292.1 and 291.8 then 290.8 Below that good support is at 288.7.

Resistance is at 292.8 and 294.6 to 295.40 beyond that resistance is at 298.7 and 304. BW Traders should go long if a close over 292.8 occurs.

Trade accordingly

May Copper

Support is at 6225 to 6200, below that buyers should surface near 6165

Resistance is at 6270 and 6425. A close over 6275 is friendly and augurs for a

test of 6425.

April Platinum

Support is at 377.8 and 373.5 Below that support is at 370.5.

Resistance is at 380.5 and 383. Beyond that a test of 390 to 393 is likely to occur...

May Silver

On the DownSide: Support is at 524.5 and 523 to 520 below that 510 should hold.

.On the Upside. Resistance is at 531.5 then 534.5. Beyond that sellers should appear near 538 and 546.5

A close over 537 is friendly and augurs for an eventual test of 564... if it holds..

The Exciting Energies

April Crude

Nearby Support is at 1348 and 1323 to 1317. Day traders can buy at 1323 for a bounce, risk 45 pts. . Below that 1304 to 1296 should hold

.

Resistance should appear near 1377 and 1383 beyond that sellers should appear near 1398 and 1415 to 1421.

April Unleaded Gas

Support is at 4249 to 4239 . Aggressive day traders can buy at 4239 for a bounce , risk

pts. Under that support is at 4170 Below that buyers should be evident at 4055

Resistance is at 4370 and 4425 to 4456. Day traders can sell at 4425, risk 80 pts..

April Heating Oil

Support is at 3584 , day traders can buy at 3585, risk 100 pts. Below that support is at 3522 and 3490. Below that support is at 3425 and 3386.

Resistance is at 3495 to 3515 beyond that 3640 offers resistance. Day traders can sell at 3665, risk 100 pts.

 

The Grande Grains

May Soybeans

Support is at 468 3/4 and 467 then 462.

Nearby Resistance is at 472 3/4 and 476. A close over 476 augurs for a test of

482 and 486.

July Soybean Meal

Support is at 131.6. and 130.5 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 1830 and 1822 to 1808.

Resistance is at 1858 to 1870, a close over 1870 is friendly and

augurs for a test of 1940.

May Corn

Support is at 219 and 217 1/2 then 212 3/4.

Resistance is at 222 1/2, beyond that a test of the 227 1/2 to 229 region is likely.

July Wheat

Support is at 278 3/4 and 275 3/4 below that 273 should hold.

Resistance is at 284 1/2 and 287

Trade accordingly.

The Satisfying Softs

May Cotton

Resistance is at 6210 and 6265 beyond resistance is at 6310 and 6415.

Support is at 6110 and 6065 then 6010. Under that buyers should appear near

5985 to 5955.

May Sugar

Support is at 562 to 559 and 542 to 536.

Resistance is at 582 to 586. A close over 582 is friendly and augurs for a test of the 616 to 622 region...

May Coffee

On the DownSide, support is at 103.60 to 103.20 Day traders can buy at 103.20 and hold for higher prices.. Put your own risk on and stay tuned. below that 102.40 and 100.70 should hold . BW Traders can buy at 98.40 and hold for higher prices.

On the Upside, Resistance is at 105.10 and 105.80...An extended trade over 105.80 is friendly and indicates a test of the 106.80 to 107.40 region.

May Cocoa

Nearby Support is at 1227 then 1216 and 1202 to 1192.

Resistance is at 1253 and 1266 to 1268. .

The Lively Livestock

April Cattle

Support is at 6820 and 6807 below that 6787 offers good support. A slip under 6802 to 6787 basis the close augurs for a test of 6712 and 6677.

Resistance is at 6862 and 6907 then 6917 and 6937 Where BW traders can sell at 6932 for a quick turn lower, risk a close over 7002 .

April Hogs

Resistance is at 4287 to 4302 and 4347 above that good sellers should appear near 4402 and 4447.

Support is at 4242 and 4202 . Under that 4147 and 4112. BW Traders can buy at 4112 and hold for higher prices.

From the Frying Pan into the Fire--

May Bellies

Support is at 5207 then 5137 and 5107. Below that 5082 to 5052 should hold...

Day traders can buy at 5052 and hold for higher prices... Below that 4947 should contain a decline and bring out good buyers.

Resistance is at 5257 to 5282. Beyond that a test of 5357 and 5407 is likely..

Stay Tuned for Flashes..

The Sensational Stock and Bond Markets

June Bonds

On The DownSide nearby support is at 120-03 and 119-26 then 119-07 to 119-03 and 118-26 .BW traders can buy at 119-04 for a turn higher, risk a close under at 118-19 for two days in a row. Below that support is at 118-15

On the Upside: Resistance is at 120-15 above that sellers should appear near 120-26 Beyond that resistance is at 121-13 and 121-26.

March SP500

On the DownSide

Support is at 1279.60 to 1279 , a slip under augurs for a test of 1274 and 1271.50 / 1271 under that 1268 to 1264 offers support .

A close under 1279 is negative and augurs for a test of 1253.

On the Upside, Resistance is at 1289 to 1293 beyond that good sellers should appear near 1303.40 to 1304 and should cap the rally.

June SP 500
Support
is at 1290.10 to 1289, a slip or close under 1289 augurs for a test of the 1285. region. Below that buyers should appear near 1274 to 1268.

Resistance is at 1301.90 and 1304. BW Traders Who have Ice Water running through their veins can sell at 1304 and hold for lower prices.

A close under 1290 is negative.

Stay tuned for Flashes

Dow Jones Industrial Avg.
Support
is at 9707 to 9691 and 9668 under that buyers should appear near 9641 to 9625 Below that 9542 to 9526 offers support.

A close under 9691 is negative..

Resistance is near 9737 to 9379 . Above that 9821 to 9837 should Cap a Rally for a bit. Beyond that resistance is at 9921 to 9937.

stay tuned for flashes

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

3-8-99 6:30 PM

Happy Trading

Bill

B W Recommended Open Pos.

Long April gold at 288.3

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

Short June C$ at 6569

Long May Silver at 561.5 and 535
Long April Platinum at 380.10
Long June Yen at 8407 and 8224

Long June Swiss at 6957
Short March SP500 at 1253

Short June SP500 at 1283

MC Recommended Open Pos.

Long May Sugar at 586

Long May Coffee at 105.80

 

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