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Precious Metals - Energy - Livestock - Grains - Softs

FuturesCom Investment Publications
Morning Comments, Wednesday , May 22nd 2002
Experienced Since 1979 - Serving Professional and Individual Traders World Wide since 1988
7690 Rockport Circle, Lake Worth, Florida 33467 Tel: 1-561-433-2995 http://www.futurescom.com
Description of Services Premier Service

Tuesday May 21st, 2002
3:30 PM e.s.t

The ‘Frenzied’ Forex Front

June Yen
Recommended open BW position , long at 8082
Support should appear near 8044 to 8029 and 7991 .

Resistance should appear near the 8119 to 8134 region and 8194 to 8223 Beyond that an eventual test of the 8300 to 8315 region is likely..

June Euro Currency (EC)
Recommended open BW position , long at 9157
Support should appear at 9156 to 9140 and 9101   Under that buyers should appear near 9060 to 9044 and 9002 .. Aggressive BW Traders can buy at 9102 and risk a close under 9039 for three days in a row.

Resistance is at 9236 and the 9316 to 9347 region.
BW Traders should go long if a close over 9238 occurs..

June Swiss Franc
Resistance should appear near 6350 and 6417 to 6430 .
Support should appear near 6337 and 6305 then 6270 to 6257..BW Traders can buy at 6272 for a bounce and risk a close under 6224 for three days in a row.

BW Traders should go long if a close over 6353 occurs

June British Pound
Support should appear near 14530 and 1.4376. BW Traders can buy at 1.4436 for a turn higher and hold for higher prices..

Resistance is at 1.4590 and 1.4710, a close over is friendly and augurs for a test of the 1.4840 to 1.4960 regions. .. Beyond that a test of 15290 to 15350 is likely.

BW Traders should go long id a close over 14714 occurs.

June Canadian Dollar
Support should appear at 6483 and 6430 to 6417. BW Traders can buy at 6432 and hold for higher prices.
Resistance is at 6509 .. Beyond that sellers should appear near 6577 to 6591

June Aussie Dollar
Support is at 5504 to 5492
Resistance is at 5553 to 5577 .

               The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 10,136 then 10,185 .
Support should appear near 10,104 and 10,070.5, under that a slip to the 10.037 to 10,021region is likely. ..

June SP500
recommended open BW position , short at 1093.50
Resistance is at 1089 and 1096 to 1098.5 and 1101 , a close over 1101 is friendly and augurs for a test of 1115..5 .
Support should appear near 1082.. however an extended trade or close under is negative and augurs for a test of the 1068 to 1058 region .

*Stay Tuned for BW Updates and additional trades during the trading sessions..

Nasdaq Composite
Resistance is at 1789 to 1796 and 1731 to 1734 .

Support should appear near 1655 to 1642

June Mini Nasdaq 100

Nearby Resistance is at 1268 to 1274 and 1289 ...
Nearby support is at the 1238 to 1232 region.

Sept 10 Year T-Note
Resistance should appear near 104-12 which should cap a rally for a bit..Beyond that sellers should appear near 105-04
Support is at 103-23 and 103-17 which should contain a decline for a bit… .

Precious Metals

June Gold
recommended open BW position , long at 316.0
Support should appear at 315.7 to 314.8 and 310.2 to 309.2. BW Traders can buy at 307.1 and risk a close under 297.1 for three days in a row..

Resistance is at 319.4 to 321.3 . a close over 321.3 is friendly and augurs for a test of 331.9 to 332.8 and the 342.5 to 344.5 region.

Buy Dips and be long…

July Copper
Support should appear near the 7255 to 7240 and the 7170 to 7140 region.. Below that buyers should appear near 7090 to 7075.

Resistance should appear near 7325 to 7345 …. BW Traders can sell at 7320 and hold for lower prices.. Beyond that sellers should appear near 7415 to 7430...

July Silver
recommended open BW position , long at 478.0
Support should appear near 478.5 to 477.5 and 471.5 to 469

Resistance is at 484.5 to 485.5.. beyond that a test of the 491.5 to 493 region is likely .. .

The Exciting Energies

July Crude Oil
recommended open BW position , long 2 at 2673
Support should appear near 2620 to 2612 and 2568 to 2552 .
Resistance is at 2663 to 2672 and 2716 to 2724

July Unleaded Gas
Recommended open BW position , long at 7965
Support should appear near 7775 to 7760 and 7690 to 7675 . Which should contain a decline for a bit... BW

Resistance is at 7835 to 7865 and 7940 to 7955 . Beyond that a test of 8030 to 8045 is likely..

July Heating Oil
recommended open BW position , long at 6845
Resistance is at 6740 to 6755 and 6805 to 6835 .
Support should appear near 6670 to 6655 and 6590 to 6570

The Lively Livestock

June Live Cattle
recommended open BW position , long at 6037

Nearby Support should appear at 5957 to 5942 and the 5882 to 5852 region. .
Resistance is at 6022 to 6037 and 6102 to 6117

June Hogs
Recommended open BW position , long at 4917
Support is at the 4787 to 4772. .

Resistance is at 4972 to 4997 .

July Pork Bellies
recommended open BW position , long at 6192
Support should appear at 5807 to 5792 and 5732 to 5717
Resistance is at 5852 to 5882 and 5942 to 5957.

-Stay tuned for Livestock and Belly Updates and Flashes-

The Grande’ Grains
July Soybeans
Resistance is at the 491 1/2 to 492 3/4. Beyond that a test of 503 3/4 to 506 3/4 and the
512 3/4 to 513 1/2 region is likely..
Support should appear at 485 3/4 to 484 1/2 under that buyers should appear near 478 3/4 to 477 1/2 .. BW Traders can buy at 479 1/4 and hold for higher prices.. Below that support is at
471 3/4 to 469 1/2

BW Traders should go long if a close over 493 occurs

July Soybean Meal
Support should appear near 164.2 and 161.5 to 160.9,which should contain a decline for a bit..
BW Traders can buy at 161.7 and risk a close under 160.7 for three days in a row.

Resistance is at 168.9 to 169.6 region Beyond that Sellers should appear near 173.1 to 173.8

BW Traders should go long if a close over 165.7 occurs..

July Soybean Oil
Support is near 1738 to 1731 and 1696 to 1689 . BW .Traders can buy at 1692 and hold for higher prices.. Below that support is at 1655 to1642 .

Resistance should appear near 1774 to1780 and the 1808 to 1822 region.

July Corn
recommended open BW position , long at 208 3/4
Resistance should appear near 212 3/4 to 213 1/2, a close over 213 1/2 is friendly a for a test of the 221 3/4 to 222 3/4 region

Support is at 208 3/4 to 208 and the 204 1/2 to 203 1/2 region. ..

BW Traders should go long if a close over 213 3/4 occurs

July Wheat
Support should appear at 272 1/2 to 271 3/4 and 267 1/4 to 266 1/2. ..BW Traders can buy at
267 1/2 and risk a close under 261 1/4 for three days in a row..

Resistance is at 275 3/4 to 277 1/2 region. A close over 277 1/2 is friendly and augurs for a another test of 280 1/2 and eventually the 282 to 282 3/4 region..

BW Traders should go long if a close over 277 3/4 occurs.

                                                 The Satisfying Softs
July Cocoa
Resistance is at 1609 to 1615 , a close over is friendly and augurs for a test of the 1642 to 1655 region...

Support should appear near 1576 to 1569 and the 1535 to 1529 region. BW Traders can buy at 1537 and risk a close under 1479 for three days in row
BW Traders should go long if a close over 1617 occurs..

July Coffee
recommended open BW position , long at 5145
Support is near 5210 to 5200 and 5140 to 5125 ..under that BW Traders can buy at 5005 and risk a close under 4905 for three days in a row.

Resistance should appear near 5285 and 5345 to 5355

July Sugar
Support should appear near 558 and 534 and 523 Traders can buy at 536 and hold for higher prices.. Under that support is at 515 to 507 ...

Resistance should appear near 582 to 586. A close over 589 is friendly and augurs for a test of the 601 to 609 and the 630 to 634 region.

BW Traders should go long if a close over 591 occurs

July Cotton
Recommended open BW position , long at 3645
Support should appear near 3625 to 3610 and 3565 to 3550 .
Resistance is at 3664 to 3685 and 3735 to 3745...

Trade Accordingly and stay tuned for updates..

A Ship in Harbor is Safe.. But that is not what ships are built for --

Happy Trading !
Bill
bill@futurescom.com
1--561-433-2995

Tuesday May 21st, 2002
5:25 PM South Florida Beach Time

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 ARE 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.