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Precious Metals - Energy - Livestock - Grains - Softs

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FuturesCom Investment Publications
Morning Comments, Wed March 24th, 2004
 
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


Tuesday  March 23rd  2004
8:05 PM .. West Palm Beach Time  

Open Positions

The Frenzied Forex Front

June Yen
Resistance should appear near 9429 to 9445
Support
should appear near 9347 to 9316 

June Euro Currency (EC)
Support
should appear at 12175 and  1.2030 to 1.1960.
Resistance
is at 12320  to 12380 and 12680 to 12740.  
BW 
Traders can sell at 126.72 and hold for lower prices.  Risk a close over 12772 for three days in a row.. 

June Swiss Franc
Resistance
should appear near 8029 to 8044.. .Beyond that sellers should appear near 8119 to 8134.
Support should appear near 7954 to 7939 , a close under is negative and augurs for a test of 7854 to 7836 and eventually the 
7777 to 7763 region .Aggressive BW  Traders should go short if a close under 7834 occurs.

June British Pound
Support
should appear near 1.8220 to 1.8150 and 1.8080
Resistance should appear near 1.8580 to 1.8560 and the 19020 to 1.9090 region.
BW Traders should go short if a close under 18072 occurs.

June Canadian Dollar 
Recommended Open Position Short 7467
S
upport should appear near 7428 to7414 and  the 7342 to 7328 region.
Resistance is at 7486 to 7513 and 7587 to 7601. BW Traders can sell at 7586 for a turn lower and risk a close over 7643 for 
three days in a row.
BW Traders should go short if a close under 7482 occurs..

June Aussie Dollar
Support
should appear near the 7428 to 7414 and 7342 to 7328 region , 
Resistance
should appear at  7486 to 7513 and 7586 to 7601. 
BW Traders should go short if a close under  7326 occurs.. Trade Accordingly and stay tuned for Updates..


                                                     
     The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance
should appear near 10104 to 10136 and 10185..
Support should appear near 10,037 to 10,021 and 9937 to 9921

June SP500
Recommended Open Position Long at 1101.3
Resistance
should appear near 1096.00 to 1101.00 
Support
should appear near 1082 and the 1068 to 1058 region

Aggressive  BW Traders should go long if a close over 1115.90 occurs

Nasdaq Composite
Support
should appear near 1865 to 1858
Resistance  should appear near 1902 to 1909 

June  Mini Nasdaq 100
Resistance
is at 1377 to 1383  
Support is at 1346 to 1334

June 10 Year T-Note
Resistance
should appear near  116-07 and116-22. 
Support
is at 115-22 and 115-07.. 

Precious Metals

April Gold 
Recommended Open Position Short 2 at 403.1 avg
Support
should appear at  418.3 to 416.3 
Resistance
is at 423.8 to 424.9 region 

May Copper
Support
should appear near 134.6 to 133.40 and the 131.00 to 130.40 region..
Resistance should appear near 137.70 to 138.30  and 141.50 to 142.10.

May Silver
Support
should appear 751.5 to 748.5 and 734.2 to 732.8 
Resistance
is at 776.5 to 777.5 and the 802.9 to 804.4 region.

The Exciting Energies

May  Crude Oil
Resistance 
should appear near 3795 to 3806 
Support is at 3623 to 3613. 

May Unleaded  Gas
Recommended open position Short 11265
Resistance should appear near 11640 to 11690 
Support should appear near 11300 to 11340

May Heating Oil
Recommended open position short 9095  
Resistance should appear near 9316 to 9347 and 9429 to 9445
Support
should appear near 9156 to 9140 and 9060 to 9044
Trade Accordingly…

                                                                               The Lively Livestock

June Cattle
Recommended open position Short 7357
Support should appear at 7257 to 7242  and 7170 to 7142 
Resistance
is at 7417 to 7427 and 7487 to 7512

June Hogs
Support
is at 7092 to 7072  below that buyers should appear near 7002 to 6992 
Resistance is at  7172 and 7242 to 7257, a close over indicates a test of 7327 to 7242
Aggressive  BW Traders should go long if a close over 7257 occurs .

July Hogs
Support
is at  6757 to 6742 region. Below that buyers should appear near  6672 to 6652
and the 6592 to 6577 region.. BW  Traders can buy at 6672 and risk a close under 6482 for three days in a row.
Resistance is at  6812 to 6837 and 6912 to 6922 , a close over augurs for a test of  6987 to 7002 and the 7072 to 7087 region..
BW riders should go long if a close over 6932 occurs.

May Pork Bellies
Recommended open position Short 10122 
Support should appear near 10187 and  10137 to 10102 
Resistance
is at 10320 to 10360 and 10470.

                                                                                     The Grande’ Grains

May Soybeans
Resistance is at 1058 to 1068,   beyond that some selling should appear near 1096 to 1101 and the 1130 to 1136 region.
Support
should appear at 1036 to 1032 and 1005 to 1000. 

May Soymeal
Support
should appear near 321.3 to 319.4 and 310.1 to 309.2.
Resistance
should appear near  327 and the 337.7 to 338.6 region

May  Soybean Oil
Resistance should appear near 3493 to 3503  and 3553 to 3563.  
Support
should appear near 3443 to 3425 and 3386 to 3377   

July Corn
Recommended open position long at 323 1/2 
Resistance should appear near 326 1/4 to 327 and the  331 3/4 to 332 3/4 region.. 
Support is at 321 1/4 to 319 1/2 and 315 3/4 to 314 1/4

May CBOT Wheat
Recommended Open Position Long at 391 1/2
Support
should appear near 412 to 411 and 405 3/4 to 404 3/4 
Resistance  should appear near 416 1/4 to 418 1/4 and 423 3/4 to 424 3/4 

                                       The Satisfying Softs

May the ‘Monster’ Coffee
Recommended open Position  Long 7645
Support
is near 7605 to 7585 and 7515 to 7485
Resistance
should appear near  7675 to 7690 and 7765 to 7780 , a close over augurs for a  trade to 7835 to 7865 and eventually 
7935 to 7955 . BW Traders should go long if a close over 7785 occurs .

May Cocoa 
Support
is at 1459 to 1453 and 1421 to 1415 
Resistance should appear near 1484 to 1496 and 1529 to 1535 

May  Sugar 
Recommended Open position Short 703

Support should appear near 686 to 682 and 671 
Resistance
should appear near  the 704 to 712  region. and 735 to739  
BW Traders should go short if a close under 670 occurs.

May Cotton
Support should appear near 6430 to 6415  and the 6350 to 6335 region. 
BW Traders can buy at 6355 and risk a close under 6245 for three days in a row. 

Resistance
should appear near 6575 to 6590 and 6655 to 6670. 

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

Stay tuned for flashes and updates in all markets..

Happy Trading!  

Bill  wil@futurescom.com

1-866-409-3890
Tuesday March 23rd, 2004
9:45 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. 
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FuturesCom Investment Publications Copyright@1996-2004 all rights reserved

Recommended Open Positions 
Short June Canadian Dollars 7467
Long June SP500 1101.30 
Short 2 April Gold 403.1 avg
Short May Unleaded Gas 11265 
Short May Heating Oil 9095
Short June Cattle 7357
Short May Pork Bellies 10122
Long July Corn 323 1/2 
Long May Wheat 391 1/2  9095
Long  May Coffee 7645 
Short May Sugar 703