Economic and Investment Trend Analysis

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FuturesCom Investment Publications
Morning Comments Friday June 25th , 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

Thursday June 24th, 2004
3:00 PM eastern time

Open BW Positions

The Frenzied Forex Front
Sept Yen
Resistance should appear near 9429 to 9445 , BW traders can sell at 9427 and risk a close over 9549 for three days in a row.
Support should appear near 9347 to 9317 and 9156 to 9140

Sept Euro Currency (EC)
Recommended open Position Short at 12172
Support should appear at 12030 to11920
Resistance should appear near 12175 and 12320 to 12380

Sept Swiss Franc
Recommended Open Position Short at 2 at 7963 avg
Resistance should appear near 8119 to 8134
Support should appear near 8044 to 8029

Sept British Pound
Support should appear near 1.8080 and 1.7800 to 1.7740
Resistance should appear near 18150 and 18220

Sept Canadian Dollar
Recommended Open Position Short at 7327
Support should appear near 7428 to 7414
Resistance is at 7487 to 7513

Sept Aussie Dollar
Support should appear near 6919 to 6906.
Resistance should appear at 6990 to 7003 .BW traders can sell at 6987 and risk a close over 7095 for three days in a row.

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 10470 and 10580 to 10630
Support should appear near 10360 to 10320

September SP500
Recommended Open position Long 2 at 1133.00 avg
Resistance should appear near 1150.00 and 1164.00 to 1169.00
Support should appear near 1136.00 to 1133.00 and 1130

Nasdaq Composite
Support should appear near 1996 to 1984
Resistance should appear near 2034 to 2042

Sept Mini Nasdaq 100
Resistance is at 1496 and 1512.5
Support is at 1471.5 and 1459 to 1453.

Sept 10 Year T-Note
Resistance should appear near 109-07 and 109-22
Support is at 108-22 and 108-07

Precious Metals

August Gold
Recommended Open Position Short 2 at 387.3 avg
Resistance should appear at 404.6 to 405.6
Support is at 392.9 to 390.9.

Sept Copper
Support should appear near 12030 to 11920 and 11690 to 11640
Resistance should appear near 12320 to 12380

Sept Silver
Support should appear 611.5 to 610 and 603.5 to 602.0 .
Resistance is at 619 and 625.5 to 627

The Exciting Energies
August Crude Oil
Resistance should appear near 3795 to 3806 and 3909 to 3929..
Support should appear near 3724 to 3716 and 3623 to 3613.

August Unleaded Gas
Resistance should appear near 12320 to 12380 and 1268 to 12740
Support should appear near 12030 to 11920 and 11690 to 11640

August Heating Oil
Resistance should appear near 10320 to 10360 and 10580 to 10630
Support should appear near 9940 to 9920 and 9840 to 9820

The Lively Livestock

August Cattle
Support should appear near 8872 to 8857 and 8777 to 8762 .
Resistance is at 9042 to 9062 and 9142 to 9157

August Hogs
Recommended open position Short at 7490
Support is at 7432 to 7412 and 7342 to 7327
Resistance is at 7512 and 7587 to 7602

August Pork Bellies
Resistance should appear near 11302 to 11362 and 11502
Support is at 11157 and 11010

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

The Grande’ Grains

Sept Corn
Support should appear near 277 1/2 to 275 3/4 and 272 1/2 to 271 3/4
Resistance is at 282 to 282 3/4 and 2871/2 to 288 3/4 ..

July Soybeans
Recommended Open Position Short at 903 1/4
Resistance is at 923 3/4 and 931 3/4 to 934 3/4
Support should appear near 915 3/4 to 914 and 906 3/4 to 904 1/2

November Beans
Support is at 691 3/4 to 690 3/4 then 675 1/2 to 674 1/4 and 667 1/4 to 665 3/4 .
Resistance is at 699 to 700 1/4 then 714 1/4 to 717 and the 724 1/4 to 725 1/2 region

August Soymeal
Recommended Open Position Short at 290
Support should appear near 288.3 to 287.4 and 282.9 to 282.0
Resistance should appear near 292.8 to 293.7 and 297.2 to 299
.
August Soybean Oil
Recommended Open Position Short at 2818
Resistance should appear near 2874 to 2883 and 2928 to 2937
Support should appear near 2829 to 2820 and 2775 to 2758 and 2724 to 2716

July CBOT Wheat
Support should appear near the 338 3/4 to 337 3/4 region. Below that 332 3/4to 331 3/4 should provide some support.
Resistance should appear near 342 1/2 to 344 1/4 and 349 1/4 to 350 1/2

The Satisfying Softs

September Coffee
Recommended Open Position Long at 8320
Support is near 7605 to 7585.and 6515 to 7485
Resistance should appear near 7675 to 7690 and 7760 to 7775
BW Traders should go long if a close over 7785 occurs

Sept Cocoa
Support is at 1334 and the 1310 to 1304 region.
Resistance is at 1377 to 1383 and the 1415 to 1421 region.. Beyond that sellers should appear near 1453 to 1459 BW Traders can sell at 1452 and risk a close over 1515 for three days in a row..

October Sugar
Support should appear near 767 to 764 and 739 to 735
Resistance should appear near 791 to 795 and 814 to 823
BW traders can sell at 789 and risk a close over 827 for three days in a row.

December Cotton
Support should appear near 5430 to 5415 and 5355 to 5345
Resistance should appear near 5489 to 5505 and 5555 to 5580

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

Happy Trading!
Bill wil@futurescom.com
1-866-409-3890
Thursday June 24th, 20044
3:40 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.

Recommended Open BW Positions
Short Sept EC 12172
Short 2 September Swiss Francs 7963 avg
Short September Canadian Dollars 7327
Long 2 Sept SP500 1133.00
Short 2 August Gold 387.3 avg
Long Sept Coffee 8320
Short August Hogs 7490
Short July Soybeans 903 1/4
Short August Soymeal 290.0
Short Aug Soybean Oil 2818

Terms