FuturesCom Investment Publications
Morning Comments (MC) May 21th, 1999
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Fri. May 21, 1999

06:08 AM

On the Frenzied Forex Front

June Japanese-Yen

Nearby Support is at 6092 to 6082 and 8044 then 8013

Resistance is at 8119 to 8134 a close over 8119 augurs for a test of 8194 to 8223

Support is at 5418 and 5408 below that support is at 5395 under that support is at 5344. Traders can buy at 5344 for a bounce, risk a close under 5282 for three days

in a row....

Resistance is at 5458 and 5474 then 5491 to 5504

Support is at 6591 to 6577. BW Traders can buy at 6577 and Hold for higher prices.

Resistance is at 6659 to 6673 beyond that resistance is at 6707 to 6728

Nearby Support should appear 1.6020 Under that support is at 1.5956. and 1.5686.

Resistance is at 1.6092.. Beyond that sellers should appear near 1.6112 and 1.6150

Support should appear at 6816 and 6809 under that buyers should appear near 6789 and 6755 to 6741

Resistance is at 6836 to 6839 and the 6889 to 6909 region. Beyond that

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

Support is at 274.1 to 273.5 and 272.9

Resistance is at 275.7 then 277 5.

Trade accordingly

Support is at 6765 to 6745 and 6720 under that support is at 6675 to 6655

Resistance is at 6845 and 6970

Support is at 355 to 354.5 and 351 to 349

Resistance is at 359 A close over 358.90 is friendly and augurs for an eventual test of the 369 to 371 region.

BW Traders should go long if a close over 358.90 occurs. .

On the DownSide: support is at 529 to 527 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 534.5 and 536.5 beyond that resistance is at 543 and 548. A close over 543 augurs for a test of 558.

Support is at 1702 to 1696 and 1689

Resistance is at 1727 and 1736 1738. A close over 1738 is friendly and augurs for a test of 1774. .

Support is at 4990 and 4955.

Resistance is at 5065 a close over 5065 augurs for a test of 5155 to 5180.

Support is at 4020 and 3930 to 3890

Resistance is at 4130 then 4250

Support is at 466 1/2 to 465 3/4

Day traders can buy at 466 1/2 and hold. for higher prices.,

Resistance is at 469 1/2 to 470 1/2 and 474

Support is at 479 1/2 to 478 and 475

Resistance is at 482 1/2 and 485

Support is at 132.6 and 129.8

Resistance is at 134.40. Beyond that resistance is at 135.6

Resistance is at 1801 beyond that resistance is at 1846 and 1858 to 1869

Support is at 218 1/2 and 215 1/2 to 214.

Resistance is at 220 1/2 then 224

Support is at 254 1/2 and 252 to 250

Resistance is at 258 and 262 to 264

On the Upside resistance is at 5855 to 5880.

A close over 5855 is friendly and augurs for a test of 5945 to 5975.

On the DownSide support is at 5760 to 5740, day traders can buy at 5765 below that support is at 5655 to 5640.

Support is at 477 and the 474 to 468 region.

Resistance should appear at 490 to 493 , a close over 493 is friendly and augurs for a test of the 507 to 517 region and eventually 534 to 538 if it holds...

On the DownSide, early support is at 119.60 below that support is at 118.80 and the 117.00 to 116.80/ 116.30 region. Day traders can buy at 116.80 and hold for higher prices. Under that support is at 115.80 and 114.50

On the Upside, Resistance is at 120.30 , beyond that sellers should appear near 121.30 and 122.00. Above that resistance is at 123.20 to 123.80 and 124.50 to 125.50 .Beyond that .Day traders can sell at 126.80 and hold. stay tuned..

Support is at 936 to 928 below that 914 to 907 should contain a decline today

Resistance is at 951 and the 968 to 972. region Beyond that resistance is at 1000

to 1011.

Support is at 6262 and 6197 to 6187 Day traders can buy at 6192 and risk 100 pts.

Below that 6132 to 6112 should hold. .

Support is at 5637 and 5602 , day traders can buy at 5607 and hold for higher

prices , below that support is at 5582 to 5557 and the 5542 region.

Resistance should appear near the 5717 then 5732 region.

Support is at 5802 to 5792 and 5727 to 5717

Resistance is at 5842 and the 5855 to 5882 region and 5897. Beyond that a test of 5945 to 5957 is likely.

Support is at near the 5367 to 5342 region. Below that Buyers should appear near 5322. Under that support is at 5242 to 5222.

Early Resistance is at 5522 and 5542. Beyond that sellers should appear near 5667 and the 5717 to 5732 Day traders can sell at 5667 and hold for lower prices..

On The DownSide nearby support is at 117-24 Below that buyers should appear near 117-0 and 116-23 where it should hold.

On the Upside: Resistance is at 118-05 then 118-11 and 118-23, beyond that a test of 119-05 is likely.

June SP 500
On the DownSide , Early support is at 1340.90 to 1340 and 1334 Below that buyers should appear at 1324.90 and 1322. Below that support should appear near 1316.70 Under that support is at 1312.80 and the 1310 to 1306 / 1304 region where it should hold.

Resistance is at 1346 and 1349.70 beyond that resistance is at 1356.90. and 1361.50

Resistance is at 10,907 and 10,934 to 10,960 beyond that sellers should appear near the 11,010 to 11,029 region. Beyond that resistance is at 11,072.