FuturesCom Investment Publications
Morning Comments
(MC) April 9, 1999
Dedicated to Excellence in Analysis of Futures
Markets
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains..
Livestock.. Softs
Fri April 9, 1999
5:55 AM
Our Next Bi-Weekly will be issued over the weekend .
On the Frenzied Forex Front
June Japanese-Yen
Support is at 8300. Below that 8268 should contain a decline today.
Resistance is at 8310 then 8352 and 8391 to 8406. A close over 8314 augurs for a test of 8406
June D-Mark
Support
should appear 5532 and the 5504 to 5489 region.Resistance is at 5553 and 5582. A close over 5582 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 6785, day traders can buy at 6782 and hold for higher prices, 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 1.5996 and the 1.5936 region.Resistance is at 1.6090 to 1.6150
June Canadian Dollar
Support
should appear at 6671 then 6659Resistance should appear near the 6719 to 6721 region . 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 283.9 under that buyers should appear near 279Resistance is at 285.5 and 288
Trade accordingly
May Copper
Support
is at 6385. Under that some support should appear near 6285 day traders can buy at 6290 and hold for higher prices. .Resistance is at 6485, beyond that resistance is at 6505 and 6590 then 6675 to 6700
July Platinum
Support
is at 353 and 348.Resistance is at 363 and 372.
Hold.
May Silver
On the DownSide
: Support is at 490.5 Day traders can buy at 490.5 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 494 and 498. A close over 494 augurs for a test of 514. A close over 514 indicates an eventual test of 530 BW Traders should go long if a close over 514 occurs.
The Exciting Energies
May Crude
Support
is at 1594 and 1569 then 1556Nearby Resistance is at 1606 then 1619 then 1635
May Unleaded Gas
Nearby Support
is at 4980 and 4925 then 4785.Resistance is at 5035 and 5145 then 5200
May Heating Oil
Support
is at 4140 and 40035 to 4005Resistance is at 4245 then 4315 and 4350.
The Grand Grains
May Soybeans
Support
is at 471 to 468.Resistance is at 479 and 483.
July Soybeans
Support
is at 480. BW Traders can buy at 480 and hold.Resistance is at 485 beyond that resistance is at 489
July Soybean Meal
Support
is at 133.40 and 132.80Resistance is at 135.6 and 136.8 then 138.4
July Soybean Oil
Support
is at 1844 and 1822 to 1808 and 1782 where it should hold today.Resistance is at 1890 to 1909 and 1937.
May Corn
Support
is at 214 3/4 and 210Resistance is at 217 1/ 2 and 220
July Wheat
Support
is at 274 to 272Resistance is at 284 to 286
The Satisfying Softs
May Cotton
On the Upside resistance
is at 6250 then 6295 and 6370.On the DownSide support is at 6158, day traders can buy at 6158 and hold for higher prices. Below that support ids at 6088 and 6055.
May Sugar
Support
is at 539 to 536 and 522 .Resistance is at 545 and 569 to 573
May Coffee
On the DownSide,
support is at 9735 to 9700 and 9665 then 9640 to 9625 and 9450.On the Upside, Resistance is at 9835, a close over 9835 augurs for a test of 103.20
May Cocoa
Support
is at 1062 and 1058 then 1036.Resistance is at 1093 and 1110 then 1128.
The Lively Livestock
April Cattle
Support
is at 6612 and 6572Resistance
is at 6687 then 6722 and 6757.April Hogs
Resistance
is at 4197 and 4222 then 4287 to 4297Support is at 4162 and 4147 then 4097.
June Hogs
Support
is at 5337. Below that 5237 offers support.Resistance is at 5437 , a close over 5437 is friendly and augurs for a test of 5532
From the Frying Pan into the Fire--
May Bellies
Support is at 4982 then 4947. Day traders can buy at 4982 and hold for higher prices Below that 4832 to 4787 offers support. .
Resistance is at 5132 then 5172 and 5202 to 5212, beyond that sellers should appear near 5247 and 5282
Stay Tuned for Flashes the Pork Complex.
The Sensational Stock and Bond Markets
June Bonds
On The DownSide
nearby support is at 122-31 and 122-26 Below that support is at 122-11 and 121-27.On the Upside: Resistance is at 123-11 and 123-26 then 124-11
June SP 500
Support
Resistance is at 1356.90 and 1362 , beyond that 1368.20 offers resistance.
Stay tuned for Flashes
Dow Jones Industrial Avg.
A close under 10,136 is negative.
Resistance is near 10320 to 10360 and 10470
A ship in Harbor is Safe.. But that's not what ships are built for.
Happy Trading
Bill
April 9 1999 7:27 AM
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 6065
Long 2 July Platinum at 363
Long 2 June hogs at 5525 and 1 at 5382
Long 2 Oct. Hogs at 5460
Short June SP500 at 1319.80
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 Coffee at 105.10
Long May Unleaded Gas at 5402 and 5005
Long May Crude at 1578
Short June Bonds at 123-04
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.