FuturesCom Investment Publications
Morning Comments (MC) June 02, 1999
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
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June 02 1999

06:10 AM

On the Frenzied Forex Front

June Japanese-Yen

Nearby Support is at 8261 to 8255, Day traders can buy at 8261, risk 50 pts. Under that good buyers should appear near the 8223 to 8194 region.

Resistance is at 8300 to 8314 and 8361.

A close over 8314 is friendly and augurs for a test of 8391 to 8406 and 8428.

BW Traders can sell at 8428 for a turn lower. Risk a close over 8454 for

three days in a row.

.

June D-Mark

Resistance is at 5316 to 5324 and 5362

Support is at 5267 and the 5211 to 5200 region...where it should hold for a bit...

June Swiss

Resistance is at 6540 and 6577 to 6591.

Support is at 6509 to 6482 BW Traders can buy at 6509, risk a close under 6482 for three days in a row...Under that 6440 to 6417 should hold...

June British Pound

Nearby support should appear near 1.6090 and 1.6070.

Resistance is at 1.6150 and 1.6252 BW Traders can sell at 1.6284 and hold.

June Canadian Dollar

Support should appear at 6718 and 6707.

Resistance is at 6748 to 6754

Stay tuned for Forex flashes.

 

Precious Metals

August Gold

Support is at 267.7 and 265 then 259

Resistance is at 269.9 and 272.50 then 275

Trade accordingly

July Copper

Support is at 6295 and 6215 to 6170

Resistance is at 6415 and 6565

July Platinum

Support is at 361 and 360 under that support is at 356.5 and 354

Resistance is at 363.5 and 365 then 370.

July Silver

On the DownSide: support is at 492.5 to 490 and 478.

On the Upside. Resistance is at 504 to 506.

The Exciting Energies

July Crude

Support is at 1615 to 1609 BW traders should consider it a buying chance and go long at 1615 and Hold...

Resistance is at 1639 and 1652 to 16.61.

July Unleaded Gas

Support is at 4717 to 4695 and 4652 then 4601.

Resistance 4805. Beyond that good sellers should appear near 4845 to 4855 and 4915.

July Heating Oil

Support is at 3905 under that 3880 to 3855 and 3825 offer support

Resistance is at 3939 and 3973 then 4022 to 4055

 

The Grand Grains

July Beans

Support is at 456 3/4 to 454 1/2 under that 442 and should contain the decline.

Resistance is at 460 3/4 , beyond that sellers should appear near 464 1/2 and 469 to 470..

November Beans

Support is at 468 3/4 and 466 1/2 then 461 1/2

Resistance is at 472 1/4 and 479

July Soybean Meal

Support is at 129.1 and 127.80 to 126.90

Resistance is at 130.6 to 131.0 and 132.5


July Soybean Oil

Support is at 1742 and 1738 to 1731 and 1715.

Resistance is at 1762 then 1774 to 1780 beyond that resistance is at

1808 and 1835.

July Corn

Support is at near 214 3/4 and 213 1/2 then 209

Resistance is at 218 1/2 and 219

July Wheat

Support is at 248 1/2 to 245 3/4 and 237 3/4

BW Traders can buy at 237 3/4 and hold..

Resistance is at 254 1/2 and 257 1/2.

BW Traders should go long if a close over 255 1/2 occurs..

The Satisfying Softs

July Cotton

On the Upside resistance is at 5792 to 5805 and 5855 beyond that resistance

is at 5901

Support is at 5729 to 5716 and 5702

July Sugar

support is at 515, day traders can buy at 515 , risk 30 pts. Under that support is near the 493 to 490 region. Under that buyers should appear near 474 to 468.

Resistance should appear at 534 to 538 and 554.

July the 'Monster' Coffee

On the DownSide, early support is at 120.30 to 119.80 and 119.20

Aggressive Day traders can buy at 120.30 and hold.. Put your own risk on it and stay tuned.. Under that support is at 118.05 and 117.30 to 116.80. Below that 116.30 and 115.80 should contain a decline.

On the Upside, Resistance is at 122.30 and 123.20 to 123.80 beyond that resistance is at 124.50 to 124.75. Above that resistance is at 126.80 to 127.40 and 130.40 to 131.10.

July Cocoa

Support is at 888 and 883 then 878

Resistance is at 907 to 912

The Lively Livestock

August Cattle

Support is at 6287 and 6212, below that 6152 to 6137 offers support.

Resistance is at 6297 beyond that sellers should appear near 6362.

June Hogs

Support is at 5102 and 5087 then 4987

Day traders can buy at 5107 , risk 50 pts.

Resistance should appear near 5187 and 5232 . A close over 5232 is friendly and augurs for a test of 5287 to 5307 and eventually 5460.

Stay Tuned for Flashes in the Pork Complex.

From the Frying Pan into the Fire--

July Bellies

Support is at 5252 to 5242 Below that support is at 5192 and 5097.

Day traders can buy at 5242 for a bounce, risk 100 pts.

Nearby Resistance is at 5292 then 5342 to 5357 and 5392 to 5417 beyond that sellers should appear near 5492 to 5502 and 5537 to 5542.

BW Traders can sell at 5537 and hold for lower prices

Stay Tuned for Flashes the Pork Complex.

The Sensational Stock and Bond Markets

Sept. Bonds

On The DownSide support is at 115-28 and 115-11, failure there augurs for a test of 114-28.

On the Upside: Resistance is at 116-06, A close over 116-06 is friendly and augurs for a test of 116-28 and 117-11

June SP 500
On the DownSide, Early support is at 1293.90 and 1289 then 1285.70 below that

support is at 1281 and 1274 and 1268

Resistance is at 1304 to 1307. Above that resistance is at 1310, a close over 1310 is friendly and augurs for a test of 1314.50 and eventually 1322 to 1323.20.

Stay tuned for Flashes ...

Dow Jones Industrial Avg.
Support is at 10,580 and 10,530. Below that support is at 10,501 and 10,470.

Resistance is at 10,680 and 10,756.

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

Happy Trading

Bill

June 02 1999 7:08 AM

B W Recommended Open Pos.

Long 2 July Cotton avg. 5843

Long Nov. Beans at 485

Long July Bean Oil at 1784

Long July Silver 508

Long 2 June Hogs avg. 5650
Long Aug. short Nov. Beans at 8 1/2 (2)
Long June Short July Hogs at 200 (2)

Long June Hogs short Aug. Hogs at 270 (2)

Long 2 July Unleaded Gas at 5085

Long July Crude at 1731

Long June SP500 at 1325.20 and 1291

Long July Sugar at 482 and 500

Long August Gold at 272.30

Long 2 June Canadian Dollar at 6792 avg.
Long July Heat at 3930

Long Dec. Corn at 230 1/2 (last Eve)

Long June bonds at 116-21

MC Recommended Open Pos.

Long 2 June SP500 at avg. 1344.60

Long Aug. short Nov. Beans at 8 1/2 (2)
Long June Short July Hogs at 200 (2)

Long June Hogs short Aug. Hogs at 270 (2)

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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.