FuturesCom Investment Publications
Morning Comments (MC) June 04, 1999
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
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June 04 1999

02:30 AM

On the Frenzied Forex Front

June Japanese-Yen

Nearby Support is at 8223 to 8194 and 8168.

Resistance is at 8261 and 8274 then 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.

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June D-Mark

Resistance is at 5308 and 5322 then 5372

Support is at 5269 and the 5211 to 5200 region

June Swiss

Resistance is at 6519 then 6529 and 6543 beyond that resistance is at 6577 to 6591.

Support is at 6482. Under that 6440 to 6417 should hold...

June British Pound

support should appear near 1.6000 and 1.5950

Resistance is at 1.6090 and 1.6150 then 1.6252. BW Traders can sell at 1.6284 and hold.

June Canadian Dollar

Support should appear at 6755 and 6741.

Resistance is at 6781 and 6809

We will roll the work to Sept. over the weekend.

Stay tuned for Forex flashes

 

Precious Metals

August Gold

Support is at 265.9 and 259

Resistance is at 269.9 and 272.50 then 275

Trade accordingly

July Copper

Support is at 6310 and 6245 then 6215 and 6140 then 6020

Resistance is at 6425 and 6505

July Platinum

Support is at 366 to 365 and 360

Resistance is at 370.5 and 375 to 378

July Silver

On the DownSide: support is at 488 then 473.

On the Upside. Resistance is at 493 and 498 then 502 and 508.

The Exciting Energies

July Crude

Support is at 1667 then 1654 and 1642 under that 1615 to 1609 should hold.
BW traders should go long at 1615 and Hold...

Resistance is at 1692 to 1704 and 1717

July Unleaded Gas

Support is at 4820 and 4785

Resistance 4935. Beyond that good sellers should appear near 5015.

July Heating Oil

Support is at 3915 under that support is at 3855

Resistance is at 4000 and 4050 and 4085.

 

The Grand Grains

July Beans

Support is at 462 and 458 1/4 under that 454 and should contain the decline.

Resistance is at 469 1/4 , beyond that sellers should appear near 472 and 477

November Beans

Support is at 470 1/4 and 468 1/2 then 465 1/2

Resistance is at 479 to 481 and 484

July Soybean Meal

Support is at 132.3 and 130.7

Resistance is at 135.3 and 137.1


July Soybean Oil

Support is at 1731 and 1702.

Resistance is at 1742 then 1774 to 1780.

July Corn

Support is at near 219 1/4 and 217 1/4

Resistance is at 224 3/4 and 227

July Wheat

Support is at 260 and 256 to 255

Resistance is at 264 then 267 to 268.

The Satisfying Softs

July Cotton

Resistance is at 5815 to 5830 beyond that resistance is at 5915 and 5945 to 5957.

Support is at 5744 and 5729 to 5715

July Sugar

Support is at 521 and 515 to 507.

Resistance should appear at 534 to 538 and 559.

July the 'Monster' Coffee

On the DownSide, early support is at 122.55 Aggressive Day traders can buy at 122.55 and hold.. Put your own risk on it and stay tuned . Under that support is at 121.10 to 120.30 and 119.20. Below that support is at 118.05 and 117.30 to 116.80.

On the Upside, Resistance is at 123.20 to 123.80 beyond that resistance is at 124.40 to 125.10. Above that resistance is at 126.80 to 127.40 and 130.40 to 131.10.

July Cocoa

Support is at 1005 to 1000 and 977.

Day traders can buy at 977 for a bounce and hold for higher prices.

Resistance is at 1027 and 1032 to 1038 , beyond that 1058 to 1068 and 1077 offer resistance.

The Lively Livestock

August Cattle

Support is at 6317 and 6292 to 8282. Day traders can buy at 6317 ,risk 50 pts.

Under that 6222 should hold.

Resistance is at 6367 beyond that sellers should appear near 6432 to 6447.

June Hogs

Support is at 5097 and 5077 then 5057

Day traders can buy at 5097 risk 70 pts.

Resistance should appear near 5127 to 5132 . A close over 5132 is friendly and augurs for a test of 5172 to 5197 beyond that resistance is at 5277 to 5297.

Stay Tuned for Flashes in the Pork Complex.

From the Frying Pan into the Fire--

July Bellies

Support is at 5267 and 5252 Below that support is at 5177 and 5102.

Day traders can buy at 5257 for a bounce, risk 100 pts.

Nearby Resistance is at 5362 and 5402 to 5417 beyond that sellers should appear near 5477 and 5492 to 5502 then 5552. 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 115-24 and 115-07, failure there augurs for a test of 114-24.

On the Upside: Resistance is at 116-03 and 116-12 then 116-24 and 117-07

June SP 500
On the DownSide, Early support is at 1299.60 and 1294.20 below that

support is at 1289

Resistance is at 1304 to 1307. Above that resistance is at 1310, a close over 1310 is friendly and augurs for a test of 1313.60 and eventually 1322 then 1326.20. to 1327.70

Stay tuned for Flashes ...

Dow Jones Industrial Avg.
Support is at 10,630 to 10,622 and 10,580 . Below that support is at 10,530 and 10,496.

Resistance is at 10,680 then 10,705 beyond that resistance is at 10,756 and 10,773.

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

Happy Trading

Bill

June 04 1999 4:00 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 August Gold at 272.30

Long 2 June Canadian Dollar at 6792 avg.
Long July Wheat at 261

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)

Long 2 July Bellies at 5362

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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.