The

Economic and Investment Trend Analysis - Socio Economics - Forex - Bonds - Dow Jones - Nasdaq - SP500-
Precious Metals - Energy - Livestock - Grains - Softs

FuturesCom Investment Publications
Morning Comments, Wed July 3rd, 2002
Experienced Since 1979 - Serving Professional and Individual Traders World Wide since 1988
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Morning Comments
Tuesday, July 2nd, 2002
3:55 PM e.s.t.

The ‘Frenzied’ Forex Front

September Yen
Recommended Open BW Position , Short 8362
Support should appear near 8314 to 8300 and the 8223 to 8194 region...
Resistance should appear near the 8391 to 8406 and the 8484 to 8499 region BW Traders can sell at
8482 for a turn lower and risk a close over 8593 for three days in a row

September Euro Currency (EC)
Recommended Open BW Position , Long 9841
Support should appear at 9821.. Below that buyers should appear near 9737 to 9706 region..
Resistance is at 9837 and 9879

BW Traders should go long if a close over 9941 occurs..

Stay tuned for Updates …

September Swiss Franc
Resistance should appear near 6741 to 6755
Support should appear near 6707 and 6673 to 6659..

September British Pound
Support should appear near 1.5172. Below that support should appear near 1.4960 to 1.4840
Resistance is at 1.5290 to 1.5350 , a close over is friendly and augurs for a test of 1.5510 ..
BW Traders should go long id a close over 1.5362 occurs.

September Canadian Dollar
Recommended Open BW Position , Long 6547
Support should appear at 6509 to 6482.
Resistance is at 6547 and 6577 to 6583

September Aussie Dollar
Support is at 5577 to 5553. Under that 5504 to 5492 should contain a decline for a bit..
Resistance is at 5640 to 5653 , a close over is friendly and augurs for a test of 5716 to 5729 and eventually 5855 to 5880, which should Cap an advance ..
BW Traders should go long if a close over 5656 occurs..

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 9044 to 9060 and 9140 to 9156

Support should appear near the 8964 to 8934 region and 8871 to 8856.

September SP500
Resistance is at 952.6 to 954.2 and 962.5 to 964.1
Support should appear near 944.5 to 942.90 and 934.7 to 931.6

Nasdaq Composite
Resistance is at 1377 to 1383 and 1415 to 1421
Support should appear near 1346 to 1334 region and the 1310 to 1304 region.

September Mini Nasdaq 100
Resistance is at 970.50 to 973.75 then 982.00 to 983.75 and 992.25 to 993.75
Support is at 964.25 to 962.50 and 954.25 to 952.50

Sept 10 Year T-Note
Resistance should appear near 108-04 and 108-23 which should cap a rally for a bit.
Support is at 107-23 and 107-04

Precious Metals

August Gold
Recommended open BW position , long 2 at 317.1
Support should appear at 310.2 to 309.2 and 306.8. Under that buyers should appear near 304.5 to 303.6

Resistance is at 314.8 to 315.7
BW Traders should go long / add if a close over 316.1 occurs

September Copper

Support should appear near 7605 to 7580 and the 7515 to 7480 region..
Resistance should appear near 7675 to 7690 and 7760 to 7780
BW Traders should go long if a close over 7780 occurs...

Sept Silver
Recommended open BW position , long at 490.0
Support should appear near 492.5 to 491.5 and 485.5 to 484.5
Resistance is at 497.5 to 499.. Beyond that an eventual test of 503.5 to 506.5 is likely

Stay tuned for Updates

The Exciting Energies

August Crude Oil
Recommended open BW position , long at 2634
Support should appear near 2672 to 2663 and 2620 to 2612 ..

Resistance is at the 2716 to 2724 region. Beyond that an eventual test of 2758 to 2775 is likely.

BW Traders should go long if a close over 2728 occurs.

August Unleaded Gas
Support should appear near 7865 to 7835 and 7775 to 7760 . Below that buyers should appear near 7690 to 7675 BW Traders can buy at 7695 and risk a close under 7470 fro three days in a row.

Resistance is at 7940 to 7955.. Beyond that a test of 8025 to 8045 is likely.
BW Traders should go long if a close over 7965 occurs..

August Heating Oil
Recommended Open BW Position , Long 6870
Resistance is at 6910 to 6920 and 6990 to 7005
.Support should appear near 6835 to 68045 and 6755 to 6740... Below that 6675 to 6655 should hold BW Traders can buy at 6670 and risk a close under 6470 for three days in a row.

The Lively Livestock

August Live Cattle
Support should appear at 6432 to 6417 and 6357 to 6332.
Resistance is at 6502 and 6577 to 6592

August Hogs
Support is at 4927 to 4912 and 4857 to 4842
Resistance is at 4972 to 4997 and the 5032 to 5067 region.

Stay tuned for updates..

August Pork Bellies
Support should appear at 6672 to 6657 and 6592 to 6577 under that 6512 to 6582 should hold.
Resistance is at 6742 to 6757 and 6807 to 6837. Above that sellers should appear near 6907 to 6922.

-Stay tuned for Livestock and Belly Updates and Flashes-

The Grande’ Grains

August Soybeans
Recommended open BW position , long at 540 1/4
Resistance is at 534 1/2 to 535 1/2 and 541 3/4 to 543..
Support should appear at 528 1/2 to 525 1/2 .Below that support is at 521 1/4 to 520
BW Traders can buy at 521 1/2 and risk a close under 511 for three days in a row..

August Soybean Meal
Recommended open BW position , long at 180.80
Support should appear near 178 to 177.4 and 173.8 to 173.1 BW Traders can buy at 173.1 and risk a close under 168.4 for three days in a row.

Resistance is at 180.8 to 182.2 and 185.8 to 186.5.

August Soybean Oil
Support is near 1796 and 1780 to 1774
Resistance should appear near 1808 to 1822

Sept Corn
Recommended open BW position , long at 240 1/2
Resistance should appear near 237 1/2 and 241 1/2 to 242
Support is at 235 1/2 and 232 1/4 to 231 1/2

Sept Wheat
Recommended open BW position , long at 322 1/2
Support should appear at to 319 1/2 and 315 3/4 to 314
Resistance is at 326 1/2 to 327 and the 331 3/4 to 332 3/4 region

The Satisfying Softs

September Cocoa
Recommended open BW position , long at 1671
Resistance is at the 1731 to 1738 region.
Support should appear near 1696 to 1689 and 1655 to 1642

September Coffee
Support is near 5140 to 5125 and 5065 to 5035. .
Resistance should appear near 5215 then 5255 to 5285 and the 5345 to 5355 region. .

--Stay tuned for updates --

October Sugar
Support should appear near 538 to 534 and .515 to 507.

Resistance should appear near 558 to 562 and 582 to 586.

Trade Accordingly

December Cotton Futures
Recommended open BW position , long at 4790
Nearby Support should appear near 4790 to 4775 and 4720 to 4695.
Resistance is at 4845 to 4855 and 4915 to 4930

Trade Accordingly and stay tuned for updates..

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

Happy Trading and Have a Safe 4th !
Bill
bill@futurescom.com
1--561-433-2995

Tuesday July 2nd, 2002
4:50 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.