FuturesCom Investment Publications
Morning Comments (MC)   Friday  July 09, 1999
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
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Friday July 9, 1999

05:12 AM

On the Frenzied Forex Front

Sept. Japanese-Yen

Nearby Support is at 8223 and 8194 Under that support is at 8164 and 8134 to 8119.. BW Traders can buy at 8164 for a bounce, risk a close under 8119 for two days in a row.

Nearby Resistance is at 8264 then 8300 to 8314. Beyond that sellers should appear near 8343 and 8352. BW Traders can sell at 8307, risk a close over 8352 for three days in a row. Beyond that resistance is at 8391 to 8406 and 8443.

Sept. D-Mark

Support should appear near the 5211 to 5200 region. BW Traders can buy at 5211 for a good turn higher and Hold for higher prices.

Resistance is at 5238 then 5261 and 5282. A close over 5282 is friendly and augurs for an eventual test of the 5344 to 5356 region... BW Traders should go long if a close over 5282 occurs.

Sept. Swiss

Nearby Support is at 6382 then 6367 and the 6350 to 6337 region.. BW Traders can buy at 6350 for a turn higher, risk a close under 6337 for three days in a row.

Nearby Resistance is at 6411 then 6417, a close over 6417 is friendly and augurs for a test of 6457. Beyond that resistance is at 6482 to 6509 where good sellers should appear..

Sept. British Pound

Support is at 1..5520 under that 15350 should contain a decline today.

Resistance is at 1.5608 and 1.5638 then 1.5690

Day traders can sell at 1.5608, risk 40 pts.

Sept. Canadian Dollar

Support is at 6782 and the 6755 to 6741 region. BW Traders can buy at 6755 for a turn higher, risk a close under 6741 for three days in a row.

Resistance is at 6809 then 6822. Day traders can sell at 6809 for a turn lower, risk 30 pts.. Beyond that resistance is at 6855 and 6871. A close over 6871 augurs for a test of the 6906 to 6919 region BW Traders should go long if a close over 6871

occurs..

Stay tuned for Forex flashes.

 

Precious Metals

August Gold

Nearby Support at 256.50 to 255.20.

Resistance is at 258.5 to 260 and 262.2

Sept. Copper

Nearby Support is at 7730 and 7695. Under that support should appear near the 7615 and the 7530

Nearby Resistance is at 7835 to 7845 and 7925 . Beyond that resistance should appear near 8015 and the 8045 region. Above that Sellers should appear near 8085 and the 8115 to 8135 region.Trade Accordingly and stay tuned.

Oct. Platinum

Support is at 349.7 and 347. Day traders can buy at 347, risk $ 5.00.

Below that support is at 344

Resistance is at 352.5. and 354.5 then 356.5

Sept. Silver

On the DownSide nearby support is at 522. Under that support is at 515.5 to 512.5 and 507. BW Traders should buy at 507 and risk a close under 497 for three days in a row. Under that support at 490 should hold..

On the Upside. Nearby resistance is at 528 and 533. A close 533 is friendly and augurs for a test of 551.5 BW traders can go long if a close over 539 occurs.

Trade Accordingly and Stay tuned...

The Exciting Energies

Aug. Crude

Nearby Support is at 1956. .Under that BW Traders can buy at 1939 for a bounce risk a close under 1902 for two days in a row.

Resistance is at 1969 and 1982 then 1996 and 2019 . Beyond that resistance is at 2034 to 2042 and 2056. However a close over 2042 is friendly and augurs for a test of the 2080 to 2088 region.

Aug. Unleaded Gas

Nearby Support is at 5805 to 5798 then 5751 BW traders can buy at 5751 for a good bounce, risk a close under 5716 for two days in a row.

Resistance should appear at 5939 and 6005. Beyond that resistance is at 6023 to 6035 and 6101 to 6113 and 6170 to 6190.. Traders can sell at 6113 for a turn lower, risk a close over 6190 for two days in a row. Beyond that sellers should appear near 6257 to 6270.

Aug. Heating Oil

Support is at 5014 Day traders can buy at 5015 and hold for higher prices under that support is at 4962 and 4926 to 4915 and 4861 to 4845. BW traders can buy a dip at 4861 risk a close under 4815 for two days in a row

Resistance is at 5153 to 5170. Above that resistance is at he 5344 to 5356 and the 5418 to 5430 region Traders can sell at 5430 , risk a close over 5504 for three days in a row Trade Accordingly.

The Grand Grains

November Beans

Nearby Resistance is at 410 1/4 and 400 under that 383 should stop the break.

Support is at 420 and 422 1/2

Dec. Soybean Meal

Resistance is at 126.3 and 128.0

Support is at 123.10 and 120.30

Dec. SoyBean Oil

Resistance is at 1605 , a close over augurs for a test of 16.48 to 1658

Support is at 1576 to 1569 then 1557

Dec. Corn

Resistance is at 200 then 203 to 203 3/4

Support is at 195 3/4 and 193.

Sept. Wheat

Resistance is at 246 3/4 and 249 then 252 1/2. A close over 253 3/4 is friendly and augurs for a test of 261 and 263 where resistance should appear.

BW Traders should go long if a close over 253 3/4 occurs..

Support is at 243 3/4 Under that buyers should appear near 240 1/2 and the

237 to 235 1/2 region, which should contain the decline for a while.

BW traders can go long at 237 risk a close under 235 1/4 for three days in a row .

Trade accordingly

The Satisfying Softs

Dec. Cotton

Support is at 5139 to 5127 and 5067 to 5036..

Resistance is at 5186 and 5200 to 5211 then 5245

A close over 5344 is friendly and augurs for a test of 5418 to 5430 region.

BW Traders should go long if a close over 5344 occurs..

Oct. Sugar

Support is at 563 to 559 and 547 then 534 to 529

Resistance should appear at 575 and 582 to 586.

Day traders can sell at 582 , risk 25 pts.

Sept. Coffee

On the Upside, Resistance is at 9710 and 9825 to 9835 Beyond that resistance is at 9920 to 9935 and 9960. And 100.00 to 100.50

BW Traders can go long if a close over 100.25 occurs.

On the DownSide, early support is at 9640 to 9625 9510 under that support is at 9465

Day traders can buy at 9465 and hold for higher prices.. Below that buyers should appear near 9345 and 9315

Sept. Cocoa

Support is at 986 to 982 and 972 to 968. Under that support is at 944.

Resistance is at 994 to 997 and 1005 Beyond that sellers should appear near 1018.

A close over 1005 is friendly and augurs for a test of the 1032 to 1036 region

The Lively Livestock

August Cattle

Resistance is at 6242 and 6277 then 6317 and 6337.

Support is at 6187 and 6172.. BW traders can buy at 6165 for a bounce and risk a close under 6112 for three days in a row. Under that 6092 should hold.

Aug. Hogs
Support
is at 4587 to 4572 and 4517 to 4502, below that 4487 should hold.

Resistance is at 4612 then 4687 to 4717 and 4787.

From the Frying Pan into the Fire--

Aug. Bellies

Support should appear near the 3612 under that support is at 3562 to 3552 then 3502 to 3492. Day traders can buy at 3492 for a bounce, . Below that 3392

should contain a decline today.

Resistance is at 3702. Above that sellers should appear near 3772 to 3782.

A close over 3772 is friendly and augurs for another test of 3857 to 3867 and

eventually 4022.. BW Traders should go long if a close over 3772 occurs.

The Sensational Stock and Bond Markets

Sept. Bonds

On The DownSide support is at 115-30 and 115-20 and 115-07 , day traders can buy at 115-22 and hold for higher prices.. Under that support is at 115-08 and 114-22 to 114-20 which should stop a hard break today..

On the Upside Nearby Resistance is at 116-08 and 116-20 to 116-23.

Day traders can sell at 116-22 for a turn lower, risk 15 pts.

Trade Accordingly.

Sept. SP 500

On the DownSide Nearby Support is at 1404.60 and 13400.10 to 1399.00. Under that support is at 1394.90. A close under 1399 is negative and augurs for an eventual test of 1385.60 to 1383.00 Below that support is near the 1380.00 to 1377.00 region. Under that Buyers should appear at 1369.20 to 1367.50 and 1361.50 Where it should hold on a decline basis the close. BW Traders can buy at 1361.50 for a bounce, again put your own risk on it and stay tuned for an exit.

Nearby Resistance is at 1410.20. Beyond that resistance is at 1415.00 and 1416.50 Day traders can sell at 1415 and Hold for lower prices., Put your own risk on and stay tuned. Beyond that resistance is at 1418.00 and 1421 ...A close 1421.00 is friendly and augurs for a test of 1433.00 and 1437.00 to 1344.40 Beyond that resistance is at 1453.00 to 1459.00. BW Traders can sell at 1456.00 and hold for lower prices.

* Traders should go short if a close under 1399 occurs..

Stay tuned for Flashes

Dow Jones Industrial Avg.
Support
is at 11,099 and should hold basis the close to maintain an upward posture.

Under that support is at 11067 to 11,059 Below that good support should appear near the 11,010 to 10,960 region. . Where it should hold on a good decline.

Resistance is at 11,129 and 11,155 beyond that resistance is should appear near 11,186 and the11,300 to 11,330 region.. Beyond that resistance is at 11,360 and 11,427.

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

Happy Trading

Bill

July 091999
6:51 AM

B W Recommended Open Pos.

BDU L 7-05 115-17

SIU L 7-05 531

GCQ L 7-05 263.6

COU L 7-06 1025

SFU L 7-06 6433

HGU S 7-08 7940

MC Recommended Open Pos.

Long Aug. Short Nov. Beans at 8 1/2 (2)

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