FuturesCom Investment Publications
Morning Comments (MC) April 15, 1999
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There is only one side of the market and it is not the
bull side or the bear side, but the right side." Jesse Livermore

Wed April 14, 1999

8:31 PM

On the Frenzied Forex Front

June Japanese-Yen

Nearby Support is at 8437, day traders should buy there for a turn higher, under that support is at 8406 to 8391. Below that 8352 should hold.

Resistance is at 8484 to 8499. Beyond that resistance is at 8537 then 8560 to 8589 and 8629.

June D-Mark

Support is at 5528 under that support is at 5504 and the 5492 to 5485 region. BW Traders can buy at 5492 for a good two to three day turn higher, risk a close under 5454 for three days in a row.

Resistance is at 5553 to 5560 then 5577. A close over 5577 is friendly and augurs for an eventual test of 5640 to 5653 beyond that resistance is at 5671 and 5682.

BW Traders should go long if a close over 5577 occurs.

June Swiss

Support is at 6758 to 6741 region. Day traders can buy at 6755 for a bounce , risk 30 pts. Under that support is at 6699 and 6673.

Resistance is at 6782 and the 6799 to 6809 region , beyond that sellers should appear near 6836. A close over 6836 is friendly and augurs for a test of 6906 to 6919.

BW Traders should go long if a close over 6836 occurs.

 

June British Pound

Support is near 1.6090. and 1.6046 then 1.5936

Resistance is at 1.6150 and 1.6224 and 1.6286.

June Canadian Dollar

Support is at 6682. A close under 6655 is negative and augurs for a test of 6625. BW Traders can buy at 6625 for a bounce, risk a close under 6591. Below that support is at 6577 and 6550.

Resistance should appear at 6732 to 6741 and 6755 then 6782 BW Traders can sell at 6741 for a turn lower, risk a close over 6755 for three days in a row. Above that sellers should appear near 6809 to 6836.

Stay tuned for Forex flashes

 

Precious Metals

Aug. Gold

Support is at 283.60 and the 281 region. Under that 278

should contain a decline..

Resistance is at 286.9 A close over 287 is friendly and augurs for an eventual; test of the 295.60 region.

Trade accordingly

 

May Copper

Support is at 6450, Day traders can buy at 6450 and hold for higher prices under that support is at 6365 then 6315 BW traders can buy at 6290 and risk a close under 6255 for three day in a row. Resistance is at 6510 and 6625 then 6710

July Platinum

Support is at 357 and 352.5 to 349 under that 344 should hold.

Resistance is at 363 and 365.5.

Hold.

May Silver

On the DownSide: Support is at 483.5 and 479. Under that support is at 473.5 .

On the Upside. Resistance is at 492 then 499.5 a close over 499.5 is friendly

BW Traders should go long if a close over 504 occurs.

July Silver
Support
 is at 485.5 then 482 Resistance is at 491.5 and 497.5

BW Traders should go long if a close over 497.5 occurs.

The Exciting Energies

June Crude

Nearby Support is at 1642, day traders can buy at 1643 below that support is at 1619 to 1612. BW traders can Buy at 1615 and hold for higher prices. Below that buyers should appear near 1578 to 1569. BW traders can buy at 1578, risk close under 1560 for three days in a row.

Nearby Resistance is at 1664 to 1669. Above that resistance is at 1693 to 1702.

Beyond that resistance is at 1716 and the 1731 to 1738 region.

A close over 1669 is friendly..

June Unleaded Gas

Nearby Support is at 5095, day traders can buy at 5095 and hold for higher prices. Under that support is at 4995 to 4970. BW Traders can buy at 4975 and hold for higher prices. Under that buyers should appear near 4915 and 4785.

Resistance is at 5255 and 5295. Beyond that resistance is at 5345 to 5356 and 5418. A close over 5430 is friendly and augurs for an eventual test of 5645 to 5653.

BW Traders should go long if a close over 5315 occurs.

June Heating Oil

Support is at 4190. Below that support is at 4165 Under that Buyers should appear at 4120 to 4110 and 4070 which should contain a decline.

Resistance is at 4270 and 4325 , a close over 4325 augurs for a test of 4455. A close over 4455 is friendly and augurs for a test of 4580.

 

The Grand Grains

July Soybeans

Support is at 496 to 495 day traders can buy at 496 and hold for higher prices. Below that support is at 488 to 485 and 474.

Resistance is at 501 3/4 beyond that sellers should appear near 505 1/2 and 507 then 512 to 515.

July Soybean Meal

Support is at 135.3 and 134.60 below that 130.5 to 128 should hold.

Resistance is at 138.4 then 141.

July Soybean Oil

Support is at 1953 to 1946, day traders can buy at 1953 under that support is at 1909 to 1902 and 1898,

Resistance is at 1988 to 1996 and 2034

July Corn

Support is at 220 to 217 3/4

Resistance is at 226 and 230

July Wheat

Support is at 268 3/4 under that 263 1/4 should hold. .

Day traders can buy at 268 3/4 risk 8 cents.

Resistance is at 269 3/4 and 274 3/4,a close over 270 is friendly

BW Traders should go long if a close over 279 occurs.

 

The Satisfying Softs

May Cotton

On the Upside resistance is at 6085 and 6095 to 6112 then 6185

On the DownSide support is at 5985 Day traders can buy at 5985. Under that

BW Traders can buy at 5965 and hold for higher prices. Below that support is at 5895

July Sugar

Support is at 471 to 468 and 449

Resistance is at 483 and 490 to 493 then 511

May Coffee

On the DownSide, support is at 9855 then 9735 , under that support is at

95.90 and 9490. Below that 9170 to 9155 should hold.

On the Upside, Resistance is at 9995 /100.00 and 101.054.

A close over 100.50 augurs for a test of 101.90 and eventually 103.20 to 103.60

BW Traders should go long if a close over 100.50 occurs.

July Cocoa

Support is at 1136 then 1130 and 1125, day traders can buy at 1125, risk 15 pts.. Below that 1115 offers support

Resistance is at 1150 then 1164 to 1169 and 1175.

The Lively Livestock

June Cattle

Support is at 6357 then 6302 to 6277 Day traders can buy at 6302 and Hold for higher prices.

Resistance is at 6412 and 6432 to 6452 .

June Hogs

Support should appear near 5377 and 5362 to 5347 .

Below that 5282 to 5257 should hold

Resistance is at 5417 to 5430 and 5462 .

From the Frying Pan into the Fire--

May Bellies

Support is at 5147 and 5117 Under that support is at 4992 and 4917.

BW Traders can buy at 4982 and hold for higher prices

Nearby Resistance is at 5217 and 5292 then 5342 to 5357. And 5442

Stay Tuned for Flashes the Pork Complex.

The Sensational Stock and Bond Markets

June Bonds

On The DownSide nearby support is at 122-08 and 121-28.

A close under 121-27 is negative and augurs for a test of the 121-08 to 121-03 region where BW traders can buy at 121-03 for a turn higher, risk a close under 120-27 for three days in a row.

On the Upside: Resistance is at 122-19 and 122-28, day traders can sell at 122-28, risk 15 pts. Beyond that resistance is at 123-07 and 123-27 then 124-07. to 124-13.

June SP 500
Support
is at 1339.50 then 1337.60 and 1334. A close under 1334 is negative and

Indicates a test of the 1322 to 1321.50 and eventually the 1310 to 1304 region.

Resistance should appear near the 1346 and 1353.40 day traders can sell an early rally to 1353.40, put your own risk on it and stay tuned... Beyond that sellers should appear near the 1361.50 region and 1369.30 to 1371.50.. Beyond that resistance is near the 1377 to 1386 region which should cap a rally.

Stay tuned for Flashes

Dow Jones Industrial Avg.
Support
is at 10,360 then 10,342 to 10,320 and 10,220. A close under 10,360 is negative and augurs for an eventual test of 10,136 to 10,104.

Resistance is near the 10427 then 10441 and the 10,580 region which

should cap a rally.

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

Happy Trading

Bill

April 14 1999

10:02 PM

B W Recommended Open Pos.

Long June Swiss at 6782
Long May Copper at 6365 and 6555
Long May Silver at 490.5 and 483
Long July Silver 489.5

Long Aug. Gold 283.90
Long 2 July Platinum at 363

Long May Cotton at 6065
Long June hogs 5382 and 5442

Long June Cattle at 6477 and 6422

Short June SP500 at 1319.80 and 1339.30

Long July Wheat at 295 3/4 and 304

Long July Beans at 509 1/4, 494 and 480

Long May Corn 227 1/2

Long May Coffee at 105.10

Long June Heating Oil at 4240

Long 2 July Sugar at 517

Long July Cocoa at 1129

MC Recommended Open Pos.
Short June SP500 at 1287.50

Short June Sp500 at 1339.30

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