Morning Comments (MC) April 22,
1999
Bonds..
SP500..
Thur April 22, 1999
7:02 AM
On the Frenzied Forex Front
June Japanese-Yen
Nearby Support
is at 8371 and 8352 under that 8314 to 8300 should hold.Resistance is at 8391 to 8406 then 8419 above that 8484 to 8499 offers resistance
Be long
June D-Mark
Support
is at 5425 to 5418 where day traders can buy at 5430 , risk 40 pts.Below that 5356 to 5344 should contain a decline in the near future.
.
Resistance is at 5449 to 5454. A close over 5454 is friendly and augurs for an
eventual test of 5495 to 5504
June Swiss
Support
is at 6654 then 6616 to 6612Resistance is at 6684 and 6707 to 6716 and 6741 .
June British Pound
Support
is near 1.6046 then 1.5936Resistance is at 1.6090 and 1.6150.
June Canadian Dollar
Support
is at 6710 and 6690.Resistance should appear at 6740 and 6755 then 6790.
Stay tuned for Forex flashes
Precious Metals
Aug. Gold
Support
is at 285.50, below that 283.30 should hold.Resistance is at 290.3, a close over is friendly and indicates a likely test of 295
Trade accordingly
May Copper
Support
is at 6945 and 6840 then 6750Resistance is at 7040 and 7145. Beyond that resistance is at 7205
July Platinum
Support
is at 359. and 357Resistance is at 365 and 369.
Hold.
May Silver
On the DownSide
: Support is at 509. Day traders can buy at 510, risk 11 cents.Below that buyers should appear near 504 and 492
On the Upside. Resistance is at 519.5 and 530. Beyond that a test of the 545 region is likely.
The Exciting Energies
June
CrudeNearby Support
is at 1786 to 1773 and 1751Day traders can buy at 1773 for a bounce , risk 40 pts.
Nearby Resistance is at 1801 to 1809 and 1826.
June Unleaded Gas
Nearby Support
is at 5190 and 5125 then 5055 to 5035.Resistance is at 5325. Beyond that resistance is at 5445
June Heating Oil
Support
is at 4340 and 4250 which should contain a decline.Resistance is at 4445 and 4530 to 4580.
The Grand Grains
July Soybeans
Support
is at 500 1\2 and 497 3/4. Day traders can buy at 500 3/4, risk 10 cents.Resistance is at 505 beyond that sellers should appear near 513 and
519
July Soybean Meal
Support
is at 135.10 and 133.3 below that 130.5 to 128 should hold.Resistance is at 138.4 and 141.0.
July Soybean Oil
Support
is at 1996 to 1982 and 1975 .Resistance is at 2055 and 2080 then 2115.
July Corn
Support
is at 228 and 224Resistance is at 233 then 238
July Wheat
Support
should appear near 265 and 259.Resistance is at 271 and 277
The Satisfying Softs
On the Upside resistance
is at 5865 and 5915 then 6015On the DownSide support is at 5810 and 5775 to 5740 then 5715
July Sugar
Support
is at 449 to 441Resistance is at 462 and 468.
July Coffee
On the DownSide,
support is at 100.90 and the 100.50 to 100.00 region. Under that 9845 to 9800 should contain a decline.On the Upside, Resistance is at 102.10 and the 103.20 to 103.60 region.
A close over 103.60 is friendly and augurs for a test of 105.80
July Cocoa
Support
is at 1069 and 1042Resistance is at 1096 to 1101 and 1128.
The Lively Livestock
June Cattle
Support
is at 6327 and 6297 to 6272.Resistance
is at 6372 and 6422.June Hogs
Support
should appear near 5532 and 5502 to 5492 then 5397Resistance is at 5592 and 5612 then 5652 and 5697 to 5707 .
From the Frying Pan into the Fire--
May Bellies
Support is at 5312 Below that support is near 5282 and 5182 to 5162.
Nearby Resistance is at 5457 to 5482 and 5552 to 5577 Beyond that sellers should appear near 5612.
Stay Tuned for Flashes the Pork Complex.
The Sensational Stock and Bond Markets
June Bonds
On The DownSide nearby support is at 121-24 and 121-14 .
Under
that support is at 120-14
On the Upside: Resistance is at 122-08 to 122-14. Beyond that resistance is at
122-22 and 123-14.
June SP 500
Support is at 1346 and 1338 under that 1234 offers good
support ... However a close under 1334 is negative and augurs for a test of the
1322 region. Below that a test of 1289 is likely.
Resistance should appear near 1354.50 and 1361.50 beyond that resistance is at 1370.20 Above that sellers should appear near 1377 and 1383.
Stay tuned for Flashes
Dow Jones Industrial Avg.
Resistance is near 10,640 to 10,680 and 10,820 region which should cap a rally. today
A ship in Harbor is Safe.. But that's not what ships are built for.
Happy Trading
Bill
April 22 1999
7:25 AM
B W Recommended Open Pos.
Long June Swiss at 6782
Long July Silver 489.5 and 503.5
Long Aug. Gold
283.90
Long 2 July Platinum at 363
Long May Cotton at 6065 and 5965
Long June Cattle at 6477 and 6422
Long July Wheat at 295 3/4 and 304
Long July Beans at 480
Long May Corn 227 1/2
Long 2 July Coffee at 101.30
Long 2 July Sugar at 517
Long July Cocoa at 1129
Long June D-marks at 5492 and 5425
Long June
Unleaded Gas at 5320
Short June C$ at 6741
MC Recommended Open Pos.
Long 2 June Yen at 8380
Short 1 June SP500 at 1340.50
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