FuturesCom Investment Publications
Morning Comments (MC) April 7, 1999
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Wed April 7, 1999

5:20 AM

On the Frenzied Forex Front

June Japanese-Yen

Support is at 8314 to 8300. Below that 8290 should hold today. Day traders can buy at 8300, risk 60 pts. Below that 8223 to 8194 should contain a decline. A close under 8194 is negative and augurs for a test of 8119 to 8114 and 8044 where traders can buy and hold for higher prices.

Resistance is at 8384 then 8391 to 8406. A close over 8406 augurs for a test of 8456 and 8470 with a touch of 8484 to 8499 likely. Beyond that resistance is at 8560 to 8589 and 8629.

 

June D-Mark

Support should appear 5525 and the 5504 to 5492 region. Day traders can buy at 5525 and hold for higher prices. Below that support is at 5475 and the 5430 to 5418 region where BW traders can buy at 5425 for a bounce, risk a close under 5418.

Resistance is at 5553 to 5577 then 5603. A close over 5575 is friendly and augurs for an eventual test of 5640 to 5653 beyond that resistance is at 5671 and 5682

June Swiss

Support should appear near the 6809 and 6788 to 6778 day traders can buy at 6788 under that support is at 6755 to 6741.

Resistance is at 6828 to 6836 , beyond that sellers should appear near the 6878 to 6888 and the 6906 to 6919 region.

June British Pound

Support is near 1.5840 and the 1.5760 to 1.5690 region.

Resistance is at 1.5964 and 1.6090 to 1.6150.

June Canadian Dollar

Support should appear at 6646 to 6633 then 6615 and 6591 to 6577

Resistance should appear near the 6659 to 6677 region. A close over 6679 augurs for a test of the 6741 to 6755 region, which 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

Aug. Gold

Support is at 282.7 under that buyers should appear near 277.5

Resistance is at 284.9 a close over 284.9 is friendly and augurs for a test of 287

Trade accordingly

May Copper

Support is at 6265. Under that some support should appear near 6165 to 6150 and the 6035 to 6020 region.

Resistance is at 6315, a close over 6315 indicates a test of 6465

July Platinum

Support is at 353 and 348.

Resistance is at 363 and 372.

Hold.

May Silver

On the DownSide: Support is at 493.5 and 487 Day traders can buy at 487 and hold for higher prices. Under that buyers should appear near 480 to 475. BW Traders should buy at 475.5 and hold for higher prices.

On the Upside. Resistance is at 499.5, a close over 499.5 augurs for a test of 513.

A close over 514 indicates an eventual test of 524.

BW Traders should go long if a close over 514 occurs.

 

The Exciting Energies

May Crude

Support is at 1641 and 1617 to 1608. Below that BW traders can buy at 1578, risk close under 1560 for three days in a row.

Nearby Resistance is at 1663 to 1667 and 1691

May Unleaded Gas

Support is at 5282 to 5259 and 5130.

Resistance is at 5335 and 5365 then 5405.

May Heating Oil

Support is at 4315 and 4250 then 4215 .

Resistance is at 4365 and 4435

The Grande Grains

May Soybeans

Support is at 476 and 472.

Resistance is at 482 and 486.

July Soybeans

Support is at 483. Below that good buyers should appear near 480.

BW Traders can buy at 480 and hold.

Resistance is at 489 then 492 beyond that resistance is at 497

July Soybean Meal

Support is at 135.6 and 134.30.

Resistance is at 138.2 and 140.4

July Soybean Oil

Support is at 1822 to 1808 and 1796 where it should hold today.

Resistance is at 1839 A close over 1839 is friendly and augurs for a test of the 1902 to 1909 region.

May Corn

Support is at 214 3/4 and 209

Resistance is at 217 1/2 then 219.

July Wheat

Support is at 286, day traders can buy at 286 and risk 8 cents.

Resistance is at 291 1/2. A Close over 291 1/2 is friendly and augurs for a test of 297 and eventually 303 1/4

 

The Satisfying Softs

May Cotton

On the Upside resistance is near the 6101 to 6113 region. Beyond that resistance is at 6145 and the 6180 to 6193 region

On the DownSide support is at 6045 and 5980 then 5945.

May Sugar

Support is at 560 to 558 and 553.

Resistance is at 569 and 579 to 586

May Coffee

On the DownSide, support should appear near the 105.90 to 105.80 region.

Day traders can buy at 105.90. Below that Buyers should appear near 105.10

to 104.60. BW Traders can buy at 105.10 and hold for higher prices. Under that

support should appear near the 103.60 to 103.20 region.

On the Upside, Resistance is at 106.60 to 106.80 and the 108.10 to 108.45 region. A close over 108.45 is friendly and augurs for a test of 109.60 to 110.10 and 110.80. A close over 110.80 augurs for a test of 112.60 and most likely the 113..00/ 113.60 region.

Buy dips and stay tuned for Flashes.

May Cocoa

Support is at 1143, under that 1136 to 1130 should contain a decline today.

Resistance is at 1154 to 1157 and 1169

The Lively Livestock

April Cattle

Support is at 6757 and 6727, under that support should appear at 6682.

Resistance is at 6832 and 6877.

April Hogs

Resistance is at 4382 and 4397 beyond that a test is at 4482

Support is at 4312 and 4282. Below that support is at 4237 and 4182.

June Hogs

Support is at 5462 to 5442 and 5422 then 5382 Day traders can buy at 5422 and hold for higher prices. Below that 5322 offers support.

Resistance is at 5522 and 5537, beyond that a test of .5622 to 5662 is likely.

From the Frying Pan into the Fire--

May Bellies

Support is at 5187 then 5122 and the 4977 to 4962 region.

Resistance is at 5262 to 5272 and 5322 beyond that 5422 offers resistance

Day traders can sell at 5422 and hold for lower prices. Beyond that resistance is at 5512. Stay Tuned for Flashes the Pork Complex.

The Sensational Stock and Bond Markets

June Bonds

On The DownSide nearby support is at 121-25 and 121-17> Below that support is at 121-03 and the 120-25 to 120-14 region.

On the Upside: Resistance is at 122-14 and 122-25 then 123-04 BW Traders can sell at 123-04 for a turn lower, risk a close over 123-11 for three days in a row.

June SP 500
Support
is at 1334 then 1330.60 and 1322 to 1320.60 to 1319.20

A close under 1334 is negative and augurs for a test of 1310

Resistance is at 1335.00 and 1336.60 Above that resistance is at 1339 / 1340 and 1346 , beyond that sellers should appear near 1352.50

Stay tuned for Flashes

Dow Jones Industrial Avg.
Support
is at 9937 to 9921 A close under 9921 is negative and augurs for an eventual test of the 9837 to 9823 region.

Resistance is near 9977 and 10,021 to 10,037. Beyond that resistance is at 10,097 and 10,104 to 10,136.

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

Happy Trading

Bill

April 7 1999 7:35 AM

Premier Positions and performance figures are available at http://www.futurescom.com/premper99.htm

B W Recommended Open Pos.

Long May Sugar at 586 and 591

Long June Yen at 8599 and 8391

Long Aug. Gold at 288.30 and 2 at 283.90

Long May Cotton at 6142 and 6065
Long 2 July Platinum at 363

Long May Copper at 6270

Long 2 June hogs at 5525 and 1 at 5382

Long 2 Oct. Hogs at 5460

Short June SP500 at 1319.80

Long June Swiss at 6809

Long June British pound at 1.6150

Long July Wheat at 295 3/4 and 304

Long May Cocoa at 1193

Long July Beans at 509 1/4 and 494

Long May Beans at 486

Long July Bean oil at 1920

Long May Corn 227 1/2

Long May Unleaded Gas at 5402

MC Recommended Open Pos.
Short June SP500 at 1287.50

Long July hogs at 5680

Long June hogs at 5525

Long Oct. hogs at 5450

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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.