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 IS 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

Sunday August 3rd  1997 for Monday August 4th
3:00 PM EST

                   On the Frenzied Forex Front

Sept. J-Yen
Recommended Position Long at 8566
Nearby Resistance is at 8500 to 8506 , an extended trade or close over 8506 augurs for a pop to 8560 then 8583.More Resistance remains 8651 where short term traders can exit & sell for a turn, risk a close over 8683 or 50 pts. However a rally to 8762 should also be sold , risk a close over 8808 Agressive traders can Buy for a bounce at 8400, risk a trade under 8381. a close Beyond that augurs for a slip to 8356 where buyers should have orders resting for a long position . Risk a close under 8300.

Trade Accordingly.

Sept. Swiss Franc
Nearby Support will appear at 6571/6577 where traders can buy, with Both Hands for a bounce, risk 30 pts. Below that 6530 offers some support. Resistance is at 6612 then 6621 and 6671 sell there for a quick turn , risk 15 pts. Above that 6691 offers res. Above that 6741 should trade.

Sept. British Recommended Position Long at 164.20
Early Support is near 162.22 then 161.50 and 160.90 where longs can be established for a bounce , risk 100 pts Resistance is near 163.18 , above that 164.20 , a close over that augurs for a pop to 164.60 then 165.50.

Sept. D-Mark .
Resistance should appear near 5418 then 5422. Beyond that 5442 then 5472. The 5504 region offers traders a place to short for a turn, risk a close over 5510, A close over 5510 augurs for a thrust to 5548 then 5577 where resistance remains. Eventually a rally back to 5619 should occur. A close over 5473 would indicate this. Support is near 5372 then 5356 where Buyers should go long for the 'pull' into Sept. Stay tuned and Trade Accordingly.

December Gold Recommended Position Long at 328.80
Resistance is near 330.00 a close over augurs for a test 332 then 338. A close over 333 augurs for test of 341 then 345..Where Sellers can short the 'Yellow Metal' for a turn and risk a close over 349 for two days in a row. Support should appear at 327.5 then 325.5 with more at 322.

Sept. Copper Recommended position long at 110.10 and 106.95
Resistance is near 107.30 , then 107.90 a close over 108.00 augurs for a test of 109.30 to 110.10. Support is 105.30 and 103.90. Below that below that traders should buy at 103.35 for a good bounce , risk 150 pts.

Trade Accordingly

Oct. Platinum Recommended position long at 420
Oct Platinum posted a new Contract High on Friday..and Gave a Weekend Buy rule..
Support should appear near 437.0 then 432.5. More support rests near 427 then 422 where traders should buy for a turn higher risk $3.00 Resistance is near 441.5 . A close over 442 is bullish...For sa rally to 451

Sept. Silver
Support should appear near 436, traders can buy for as bounce .More support is near 424 then 419 where long term long term traders can buy for a position, risk a close under 413 for three days in a row.Resistance is near 455/ 457 . Beyond that 469offers reistance , sell at 469 for a turn, risk a close over 476 for two days in a row.

Sept. Crude Oil.
Support is 2007 then 1982 Good Support is near 1973 , below that 1925- where traders can buy for a turn higher. Below that 1877 should hold and be bought, risk a close under 1858 for three days in a row. Resistance is near 2020 then 2028/ 2032, beyond that 2057 anfd 2070 offer res. sell at 2070 for a turn lower , risk a trade over 2077. More Resistance is near 2088. A close over 2088 augurs for a thrust to 2170 and beyond.

Sept Unleaded
Support is near 6435 More Support is near 6335 then 6230, Below that 6140 then 5835 where traders should have buy orders resting for a turn higher , risk 100 pts. Resistance is near 6530 then 6635 beyond that 6780 offers a selling region....

Sept Heating Oil.

Support near 5625 then 5525 , below that 5490 is likely to trade. down below at 5290 is where traders can buy for a turn higher and risk a close under 5190 for three days in a row.Resistance is at 5720 Where traders can sell for a turn, risk 150pts. More Resistance is near 5800 then 5840. Sell at 5845 for a turn and risk a close over 5930 for two days in a row. Stay Tuned

Trade Accordingly

August Beans

Sellers should appear at 775 3/4 , above that 781 3/4 . Additionally 789 to 791 3/4 offers good resistance sell at 791 3/4 for a quick turn for a quick turn lower risk a close over 803 1/2. A close over 804 augurs for a test of 823 then 854.
Support is near 754 then 748. Good Support is near 745, buy there for a bounce. More support hould appear at 734 to 730, Buy at 734 1/4 risk a close under 722 for three days in a row.

November Beans Recommended Position Short at 645.
Resistance is near 659 3/4 to 660 1/2, sell short at 659 risk 7 cents.Beyond that 673 3/4 offers sellers as well as 687.
Support is at 651 and 646 1/2 , below that 633 is likely to trade. a close under 631 would indicate a slip to 625 to 617...

A close under 651 is negative.

Dec Soybean Meal Recommended Positon Short at 208
risk a close over 214.8

Support is near 214. then 212 and 208.5
Resistance is near 21then 220

A close under 214 is negative...

Dec Soybean Oil
Nearby Support is near 2263 then 2219 Resistance is near 2304 With Good sellers at 2340 and 2363. Beyond that region ,Sell short at 2411 risk a close over 2461 for three days in a row.

Sept Corn
Resistance is near 269 1/4 Then 274 where Hedgers should sell 'till the Cows come home'.Traders should sell at 273 risk 4 cents. Support is at 265 1/2 and 264.
A close under 264 is negative.

December Wheat
Resistance is near 378 then 384 above that, sell at 388 for a turn, risk a close over 393 for three days in a row. Above that 404 should trade. Support is near 373 3/4 then 371, below that 365 should trade..

A close under 373 3/4 is negative....

Trade Accordingly

October Cotton
Support is near 7450 below that 7380 is where traders can cover/buy for a bounce, use a stop close under 7305 for 3 days in a row. Resistance should appear near 7550 then 7625

October Sugar
Support is near 1163 , below that 1152 to 1149, where traders can buy for a bounce, risk a close under 1141 for three days in a row. Resistance is near 1178 then 1192 where traders can sell for a turn, risk a close over 1203 for three days in a row.

September the' Monster' Coffee Recommended position Short at 189.30
Support is near 183.80,a close/trade under augurs for a test of 181.10 below that 178.00 , a close under 181.10 augurs for a slip to 175.60 then 173.80 buy there for a bounce,stay tuned. Good Support is near 169.60 then 167.00. Buy at 165.50 for the 'pull', risk a close under 162.05 for three days in a row. Resistance is near 186.80 then 188.85 to 189.50. More resistance is near 190.55 then 194.55 , beyond that 205.10. 'Hearty' traders can sell at 204.20, risk a close over 205.5 for three days in a row.

A close under 181.10 is negative.

Have your' Steel Cup' Ready

November Orange Juice Recommended position long at 77.25
Resistance is near 7850 then 7915, a close over 7850 augurs for a test of 8120. Support is near 76.30 buy there for a turn higher , risk 100 pts. Below that 7350 offers mild support.

Friendly

Sept Cocoa Recommended Position Long at 1535
Support is near 1484, buy at 1484, risk a close under 1451 for three days in a row. Below that a slip to 1436 iis likely. Resistance is at 1522 then 1536 and 1569 Beyond that 1597. Exit longs / Go short for a turn at 1607, risk a close over 1615 for three days in a row.

Trade Accordingly.

Sept Lumber
Support is near 345.80 to 345.40 then 343.30 . Below that 337 offers some support.Resistance is near 348.30 beyond that 350.40. Above that 356 offers resistance.

Oct Cattle:
Nearby Support is at 6980 where traders should buy for a bounce risk a trade under 6917. Resisitance is near 7082 then 7125 where one should sell for a turn, risk a trade over 7177.

August Feeder Cattle Recommended Position Long at 8142
Support is at 8107 then 8055 .Beneath that 8047 is where traders should have buy orders waiting to go long, risk a close under 7987 for three days in a row. Resistance is near 8207 then 8252 above that sell at 8280 and risk a close over 8357 beyond that a test of 8397 then 8447 is likely.

Trade Accordingly .

August Hogs
Nearby support is at 8167 then 8057 a close under 8162 augurs for a slip to 8080 then 7957 where traders can buy for a bounce, risk 75 pts. Resistance is near 8237, then 8262 . If a sharp rally occurs 8312 offers resistance and a place where traders should sell for a turn, risk a close over 83362 for three days in a row.

October Hogs Recommended Position Short at 7450 and 7550
Risk a close over 7602 for three days in a row

Nearby Resistance is at 75.82 then 7502. . Support is at 7532 then 7497. Below that 7450. A close under 7480 augurs for a test of 7340.

Trade Accordingly.

August Bellies Recommended position Short 4 avg 8110
Support is near 8712then 8467 , a close under 8742 augurs for a slip to 8395.
Resistance is near 8972 sell there for a turn lower, risk 100 pts. Above that 9027 offers Res.
A close under 8700 is negative.

-From the Frying pan into the Fire-

Sept Bonds
Resistance is near 115-19 then 115-30 , sell there for a turn lower , risk 5 pts.
Nearby Support is 114-19 , below that 113-27 then 113-22 to113-19, a close under 114-19 augurs for a test of 113-22, a close under 113-22 is negative .for a move to 109-15.

Trade Accordingly

Sept SP500 Recommended postion Short at 943.65
On the Downside, Early and critical support is 948.154 below that 943.60 then 941.20 a close under 948.15 augurs for a pullback to the 928.05 region. Any trade under 948 for any length of time indicates a pull back to 944.50. then 942.60 and evenmtually 941.20

On the Upside, Resistance is firm at 954.20 , above that 958.35, then 960.15, beyond that 964.00. Above that ,Sell at 965.15 for a turn. Additionally 966.90 offers selling pressure Beyond that 975 is likely to trade.

A close under 957.55 is negative...

Stay Tuned for UpDates

Trade Accordingly.

Happy Trading

Bill

FuturesCom's Secured Payment Server
FuturesCom's Price
Special Reports
FuturesCom.com