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FuturesCom Investment Publications
Morning Comments,  Wed April 21st 2004
Serving Professional and Individual Traders World Wide since 1988
7690 Rockport Circle ,  Lake Worth ,  Florida 33467 -  USA and Canada Toll Free :
1-866-409-3890 -  Intl : 1- 561-433-2995  http://www.futurescom.com


Tuesday April 20th   2004
3:00 PM. West Palm Beach Time  

Open BW Positions

 

The Frenzied Forex Front

 
June Yen
Resistance should appear near 9314 to 9347 and 9429 to 9444
Support should appear near 9156 to 9140 and  the 8986 to 8934 region….Below that buyers should appear near 8871 to 8856..  BW Traders can buy at 8877 for a turn higher and risk a close under 8752  for three days in a row.

June Euro Currency (EC)
Recommended open position Short 11889
Support should appear at 11805 and  the 11690 to 11640 region.
Resistance is at 11975 to 12030 and 12175..Beyond  that sellers should appear near 12320 to 12380  BW Traders can sell at 1.2174 for a turn lower and hold for lower prices … Risk a close over 12252 for three days in a row.   

June Swiss Franc
Recommended open position short 2 at 7730 avg
Resistance should appear near 7675 to 7689 and 7763 to 7777.  
Support should appear near 7601 to 7587 and the 7513 to 7486 region .

June British Pound
Support
  should appear near 1.7740 and 17560. 
Resistance should appear near  17800 then  17940 and 18080 to 18150 and 18220  
BW Traders can sell at 18132 to a turn lower and risk a close over 18232 for three days in a row

June Canadian Dollar
Recommended open position short at 7373
Support should appear near the 7342 to 7328 region. Under that buyers should appear near 7255 to 7242
Resistance is at 7414 to 7428 and the 7486 to 7513 region..   BW  Traders can sell at 7482 and risk a close over 7604 for three days in a row.   

June Aussie Dollar
recommended open position short at 7306
Support should appear near  7255 to 7242 and 7170 to 7143
Resistance
should appear at 7414 to 7428 and the 7486 to 7513 region.
.BW  Traders can sell at 7484 and risk a close over 7557 for three days in a row. 


                                             The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance
should appear near 10320 to 10360 
Support should appear near 10257 and  10136 to10104, which should hold and contain a decline for the time being. …

June SP500
Recommended open position long at 1115.70 
Resistance
should appear near 1130 to 1136 
Support
should appear near the 1101.00 to 1096.00 region ..
BW Traders should go long if a close over 1136.70 occurs.

Nasdaq Composite
Support
should appear near 1953 to 1946 and 1909 to 1902 
Resistance should
appear near 1982 to 1996 

June Mini Nasdaq 100
Resistance
is at  the 1453 to 1459 region.
Support
is at 1421 to 1415 and 1383 to 1377  

June 10 Year T-Note
Resistance
should appear near  110-22 and 111-07..
Support is at 110-07 and 109-22 

Trade accordingly.

Precious Metals

 

June Gold 
Resistance
should appear at 398.2 to 399.2 and 404.60 to 405.60 .. Beyond that sellers should appear near  411 to 412 and 416.3 to 418.3.  BW Traders can sell at 410.90 and risk close over 418.7 for three days in a row. Beyond that sellers should appear near 423.80 to 424.90 and cap a rally.
Support
is at 392.90 to 390.90 and the 386.70 to 385.80 region, which should hold..

BW Traders should go short if a close under 397.70 occurs.

July Copper
Support
should appear near 130.40 then 12740 to 12680 and the 12380 to 12320 region. 
Resistance
should appear near 13340 to 13460 then137.70 to 13830  

Aggressive BW Traders should go short if a close under 130.10 occurs.  

July Silver
Support
should appear near 675.5 to 674.0 to 667.5 to 665.5 should contain a decline..BW Traders can buy for a bounce at 676.5  and risk a close under 664.0 for three days in a row.
Resistance
is at 681 to 683.5 and 699 to 700.5. 

                               The Exciting Energies

June Crude Oil
Resistance 
should appear near 3663 to 3683 and 3734 to 3743
Support is at 3623 to 3613  a close under is negative and augurs for a test of 3563 to 3553 and most likely the 3503 to 3493 region.

June Unleaded  Gas
Recommended open position short 11600
Resistance should appear near 11640 to 11690 and 11920 to 12030 , which should cap an early rally.. Support should appear near 11360 to 11300 failure there augurs for a test of 11010 to 10960 and eventually the 10680 to 10580 region. Which should hold.. 

June Heating Oil
recommended open position short 9310 
Resistance should appear near 9315 to 9345 then 9425 to 9445 and 9560 to 9590 Beyond that  9705 to 9735 should cap a rally ,, .BW Traders can sell at 9705 and risk a close over 9945 for three days in a row.
Support
should appear near  9155 to 9140 and 9060 to 9045.  

                                                 
 The Lively Livestock

June Cattle
Recommended Open position Short at 7757
Nearby Support should appear at 7777 to 7762 and 7692 to 7672  
Resistance
is at 7832 to 7867 and 7937 to 7957  

June Hogs
Support
is at 7002 to 6992 and the 6922 to 6907 region 
Resistance
is at 7077 to 7087 and 7142 to 7170

July Hogs
Support
is at  6922 to 6912 .. Below that buyers should appear near 6837 to 6807 and the 6757 to 6742 region. Which should hold. 
BW 
Traders can buy at 6842 and risk a close under 6652for three days in a row.
Resistance is at 7002 and the 7072 to 7087 region.. Beyond that sellers should appear near 7142 to 7172.
BW Traders should go long if a close over 7092 occurs.

May Pork Bellies
Support
should appear near 10470 and 10360 to 10320 .
Resistance
is at 10630 to 10680 ..Beyond that sellers should appear near the 10820 

               ---  Traders should stay tuned for BW Updates and Flashes in the Livestock markets  ---

 

                                   The Grande’ Grains

July Soybeans
Resistance
is at 962 1/2 to 964 1/4 and 970 3/4 to 973 3/4 
Support
should appear at 944 1/2 to 942 3/4 and the 934 ¾ to 931 ¾ region, which should hold.  Well-heeled  BW Traders who have ice water running through their veins can buy at 937 and risk a close under 913 ¾ for three days in a row.  Below that 887 ¼ to 885 ¾ should contain a decline ..

July Soymeal

Support
should appear near 293.7 to 292.8  and the 282.9 to 282 region, which should hold.  BW  Traders  can buy at 283.1 and risk a close under 271.2 for three days in a row.
Resistance
should appear near 303.6 to 304.5 and 309.1 to 310.2
BW Traders should go long if a close over 310.7 occurs.

July Soybean Oil
Resistance should appear near 3261 to 3270 then 3319 to 3328 and 3377 to 3386 ..
Support
should appear near 3213 to 3194 , which should contain a decline,    Failure there augurs for a test of 3157 to 3148 and eventually the 3102 to 3092 region..

BW Traders can go short if a close under 3189 occurs

Stay tuned for BW Flashes and Updates..

July Corn
Resistance
should appear near 315 and 319 1/2 to 321 1/4 
Support
is at  310 1/4 to 309 1/4 and 304 1/2   to 303 3/4 
BW Traders should go long if a close over  321 3/4 occurs.

December Corn
Resistance
should appear near 309 1/4 to 310 1/4 and 314 3/4 to 315 3/4 ... a close over augurs for a test of 326 1/4 to 327 which should cap a rally for a bit. .
Support
is at  304 1/2 to 303 3/4 and 299 to 297 1/4. BW Traders can buy at 299 3/4  and risk a close under 281 3/4 for three days in a row

BW Traders should go long if a close over 316 1/4  occurs.

July CBOT Wheat
Recommended open position long 402 1/2
Support should appear near 405 3/4 to 404 3/4 and 399 1/4 to 398 1/4  
Resistance  should appear near  411 to 412 and the 416 1/4  to 418 1/4 region. 

Trade Accordingly and Stay tuned for updates

 

                                        The Satisfying Softs

July the ‘Monster’ Coffee
Support
is near 7170 to 7145  and the 7005 to 6990 region..  Under that buyers should appear near 6755 to 6740 and 6670 to 6655.
BW Traders can buy at 6765 and hold for higher prices.. risk a close under 6655 for three days in a row.
Resistance should appear near 7240 to 7255 , a close over augurs for a test trade to 7325 to 7340 and eventually the 7415 to 7430 region. 
BW Traders should go long if a close over 7265 occurs.

July Cocoa 
Support
is at 1334 and the 1310 to 1304 region.. Below that buyers should appear near 1274 to 1268 where it should hold  .
BW Traders can buy at 1277 and risk a close under 1227 for three days in a row.
Resistance is at 1377 to 1383 and 1414 to 1428

July Sugar 
Support
should appear near  686 to 682 , a slip under augurs for a test of 661 to 656.  BW Traders can buy at 663 for a turn higher and risk a close under  627 for three days in a row.. 
Resistance
should appear near the 704 to 712  region. Beyond that resistance should surface near  735 to 739 

July  Cotton
Support should appear near 6190 to 6165 and the 6115 to 6105 region .BW.Traders can buy at 6115  and hold for higher prices. Risk a close under 5935 for three days in a row.  
Resistance
should appear near 6335 to 6350 . A close over is friendly and augurs for a test 6485 to 6510 

BW Traders should go long if a close over 6355 occurs 

 
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 April 20th2004
3:10 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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                                                                         Terms 

FuturesCom Investment Publications Copyright@1996-2004 all rights reserved

Recommended Open BW  Positions
Short June EC 11889
Short 2 June Swiss Franc 7730 avg
Short June Canadian Dollar 7373
Short June Aussie Dollar 7306
Long June SP500 1115.70
Short June Unleaded 11600
Short June Heating Oil 9310  
Short June Cattle 7557 
Long July Wheat 402 1/2