FuturesCom Investment Publications
Morning Comments (MC) May 18th, 1999
Bonds.. SP500..
Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
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Courage in a Speculator is merely confidence to act on the decision of his mind

 

Mon. May 17, 1999

08:52 PM

On the Frenzied Forex Front

June Japanese-Yen

Nearby Support is at 8119 and 8086 and it should hold...

Day traders can buy at 8119 and hold...

Resistance is at 8134 then 8161 and 8176 to 8183/8194 and 8219 to 8224, a close over 8161 is friendly and augurs for a test of 8300

June D-Mark

Support is at 5448 and 5430 to 5418 under that 5402 to 5398 provides

some support...

Resistance is at 5498 to 5504 and 5519 and 5535

Day traders can sell at 5498, risk 30 pts.

June Swiss

Support is at 6659 and 6631 to 6629 and 6618, below that a test of 6591 to 6577

is likely BW Traders can buy at 6577 and Hold for higher prices.

Resistance is at 6680 beyond that resistance is at 6707 and 6718 Day traders can sell at 6718, risk 40 pts. Beyond that sellers should appear near the 6741 to 6757 region

June British Pound

Nearby Support should appear near 1.6150 and 1.6126 then 1.6090.

Under that support is at 1.6020 and 1.5936.

Resistance is at 1.6186. Beyond that sellers should appear near 1.6232 and 1.6286 then 1.6336.

June Canadian Dollar

Support should appear at 6836 to 6820. Below that support is at 6782 and 6755 to 6741

Resistance is at 6882 and the 6909 to 6919 region.

BW Traders can sell at 6920 a turn lower, risk a close over 6955 for three days in a row.

Stay tuned for Forex flashes

 

Precious Metals

June. Gold

Support is at 274.6 and 272.2

Resistance is at 276.4 and 277. then 279 5.

Trade accordingly

July Copper

Support is at 7110 and 7095 under that 7075 should hold.

Resistance is at 7145 Beyond that a test of the 7255 to 7265 region is likely.

BW Traders should go long if a close over 7345 occurs.

July Platinum

Support is at 355 and 353 BW Traders can buy at 353 and hold for higher prices.. Below that support is at 349 to 346

Resistance is at 357 to 360.2 A close over 358.90 is friendly and augurs for an eventual test of the 366.5 to 368 region. BW Traders should go long if a close over 358.90 occurs. .

July Silver

On the DownSide: Support is at 537 Day traders can buy at 538 and hold for higher prices. Under that buyers should appear near 535 and 527 to 522 Below that

BW Traders should buy at 516 and risk a close under 512 for three day in a row.

Under that support at 507 should hold.

On the Upside. Resistance is at 541.5 Beyond that resistance is at 551.5 and 558.

A close over 552 augurs for an eventual test of 573 ...If it holds..

 

The Exciting Energies

July Crude

Support is at 1747 day traders can buy at 1747 and hold.. Below that support is at 1738 to 1730

Resistance is at 1797 and 1808 to 1822 , a close over 1797 is friendly and augurs for a test of 1822 then 1858 to 1869.

.

July Unleaded Gas

Support is near the 5130 region Day traders can buy at 5130 risk 100 pts.

Below that support is at 5110 and 5077

Resistance is at 5168, a close over augurs for a test of 5220 then 5330 to 5356.

July Heating Oil

Support is at 4287 and 4249 to 4238.

Resistance is at 4345 then 4425 to 4446 and 4475

The Grand Grains

July SoyBeans

Support is at 468 3/4 and 462.

Day traders can buy at 469 and hold..

Resistance is at 471 1/4 and 475. A close over 471 1/4 is friendly

November Beans

Support is at 481 1/4 then 477

Resistance is at 484 3/4 a close over 484 3/4 is friendly and augurs for a test of 488 to 489. BW Traders should go long if a close over 493 occurs.

Stay Tuned for Special report Flashes

and Be Long...

July SoyBean Meal

Support is at 133.5 and 132.6 below that 127.4 should hold.

BW Traders can buy at 127.40 and hold for higher prices. .

Resistance is at 135.60. Beyond that resistance is at 137.7 and 140.


July SoyBean Oil

Support is at 1780 to 1774 then 1740

Resistance is at 1813 and 1822. A close over 1813 is friendly and augurs

for a test of 1832 beyond that resistance is at 1858 to 1869

July Corn

Support is at 219 and 216 1/2.

Resistance is at 224 beyond that sellers should appear near 226 3/4

July Wheat

Support is at 260 1/2 and 257 3/4.

Resistance is at 263 3/4 and 267 1/2 to 268 3/4

 

The Satisfying Softs

July Cotton

On the Upside resistance is at 5835, beyond that a touch of 5855 to 5880 is likely. A close over 5855 is friendly for an eventual test of 5927 then 6023 to 6035.

On the DownSide support is at 5805 then 5730 to 5717 and 5655.

Hearty Day traders can buy at 5805 and hold for higher prices..

July Sugar

Support is at 461 and 449 to 441

Resistance should appear at 468 Beyond that sellers should appear near 471 and 485 then 507.

July Coffee

On the DownSide, early support is at 108.65 then 108.40 and 107.90, Under that support is at 106.20 to 105.90 Aggressive day traders can buy at 105.95 for a turn higher...Under that support is at 104.70 then 103.60 and 103.20 ...Below that BW Traders can buy at 102.65 and hold for higher prices.

On the Upside, Resistance is at 109.60 to 110.10 and 110.90 where resistance

remains.. Beyond that sellers should appear near 112.80 and 113.00 to 113.60.

 

July Cocoa

Support is at 968 then 954 Under that 950 to 932 should hold.

Resistance is at 972 , a close over 972 augurs for a test of 1004.

The Lively Livestock

August Cattle

Support is at 6192 and 6177 to 6165. Day traders can buy at 6182, risk 50 pts.

Below that Support is at 6102 and 6072.

Resistance is at 6222 and the 6247 to 6252 region. Above that sellers should

appear near 6327.

June Hogs

Support is at 5717 to 5697. BW Traders can buy at 5717 and hold for higher prices.

Below that 5652 to 5617 should hold.

Resistance should appear at 5817. Beyond that resistance is near 5852 to 5882.

Beyond that 5917 offers resistance.

July Hogs

Support is at 5922 and 5907, then 5887. Day traders can buy at 5887 and hold..risk 100 pts.

Resistance is at 5977 and 6022 then 6077, day traders can at sell at 6077, risk 50 pts. . Beyond that resistance is at 6107 to 6112 and 6167

Stay Tuned for Flashes in the Pork Complex.

From the Frying Pan into the Fire--

July Bellies

Support is at 5377 region. Below that Buyers should appear near 5357.

BW Traders can buy at 5357, risk a close under 5257 for three days in a row.

Resistance is at 5507 and 5562 then 5637 to 5657, Hearty Day Traders can sell at 5657 and hold for lower prices.. Beyond that sellers should appear near 5717 to 5732 , day traders can sell at 5717 and hold...above that sellers should appear near 5807 and 5872.

Stay Tuned for Flashes the Pork Complex.

The Sensational Stock and Bond Markets

June Bonds

On The DownSide nearby support is at 117-10 Below that buyers should appear

near 117-02 and 116-30 where it should hold for a bit..

On the Upside: Resistance is at 117-26 and 118-01 A close over 118-01 is friendly.

June SP 500
On the DownSide , Early support
 is at 1340.50 to 1340 and 1334 to 1330.60. . Below that buyers should appear at 1324.50 to 1322. Below that support should appear near 1317.10 Under that support is at 1312.80 and the 1310 to 1306 / 1304 region where it should hold.

Resistance is at 1346 and 1349.10.. Beyond that sellers should appear near 1351.40 and 1356.50 . Above that 1359.10 to 1361.50 offers resistance.

.

Stay tuned for Flashes ...

Dow Jones Industrial Avg.
Support
is at 10,820 then 10,812 to 10,797. Under that support is at 10,756 and 10,680 to 10,630 where it should hold on a hard decline.. A close under 10,630 is negative and augurs for a test of 10,470.

Resistance is at 10,882 and 10,960 to 10,985 then 11,010 beyond that sellers should appear near the 11,029 region. Beyond that resistance is at 11,072.

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

Happy Trading

Bill

May 171999 9:29 PM

B W Recommended Open Pos.

Long June Gold at 277.5

Long July Copper at 7105

Long June Unleaded Gas at 5397 and 5265

Long July Soy Meal at 132.4

Long July Bean Oil at 1909

Long July Cotton at 5957

Long July Wheat at 270 1/2

Long July Beans at 471 3/4

Long Nov. Beans at 485

Long July Silver at 557

Long June Yen at 8223

Long July Cocoa at 942

Long June Bonds at 117-12
Long June Canadian Dollar at 6820

MC Recommended Open Pos.

Long June SP500 at 1371.90

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