Economic and Investment Trend Analysis - Socio Economics - Forex - Bonds - Dow Jones - Nasdaq - SP500-
Precious Metals - Energy - Livestock - Grains - Softs
FuturesCom Investment Publications
Morning Comments, Tuesday, June 4th, 2002
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
Description of Services Premier Service
"If the Creator had a purpose in equipping us with a neck,
he surely meant for us to stick it out." --- Arthur Koestler
Monday June 3rd, 2002
7:30 PM e.s.t.
The ‘Frenzied’ Forex Front
June Yen
Recommended open BW position , long at 8082
Support should appear near 8044 to 8029 and the 7954 to 7939 region.. well-heeled aggressive traders can buy at 7955 and risk a close under 7901 for three days in a row..
Resistance should appear near 8119 to 8134 and the 8195 to 8224 region.
June Euro Currency (EC)
Recommended open BW position , long at 9372
Support should appear at 9388 and the 9347 to 9317 region.
Resistance is at 9429 to 9445 is likely.. Above that resistance is at 9526 to 9542
June Swiss Franc
Recommended open BW position , long at 6390
Resistance should appear near the 6417 to 6430 and 6482 to 6509 ,..
Support should appear near 6350 to 6337 and 6304 BW Traders can buy at 6307 for a bounce and risk a close under 6224 for three days in a row.
June British Pound
Recommended open BW position , long at 1.4612
Support should appear near 1.4590 to 1.4560 and 14530
Resistance is at 1.4710, a close over is friendly and augurs for a test of the 1.4840 to 1.4960 regions. ..
June Canadian Dollar
Recommended open BW position , long at 6514
Support should appear at 6543 and 6509 to 6482..
Resistance is at 6577 to 6591, a close over is friendly and augurs for a test of 6655 to 6675
BW Traders should go long if a close over 6593 occurs..
June Aussie Dollar
Support is at 5653 to 5640 and 5577 to 5553 BW Traders can buy at 5611 and risk a close under 5549 for three days in a row.
Resistance is at 5716 to 5729 , a close over 5729 is friendly and augurs for a test of 5792 to 5808 and eventually 5855 to 5880 which should Cap an advance . BW Traders can sell at 5854 and risk a close over 5917 for three days in a row.
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
On the Upside Nearby Resistance should appear near 9737 and 9783.. a close over is friendly for a test of 9821 to 9837
On the Downside Nearby Support should appear near 9641 to 9625..A close under is negative and augurs for a slip to 9542 to 9526 and the 9347 to 9316 region..
Resistance is at 1047 and 1058 to 1063
Support should appear near the 1036 to 1032 region.. Below that buyers should appear near the 1005 to 1000 region..
Resistance is at 1569 to 1576 and 1609 to 1615
Support should appear near\1535 to 1529 and the 1496 to 1484 region.. which should stop a decline for a bit..
June Mini Nasdaq 100
Resistance is at 1164 to 1169 and 1181.5
Sept 10 Year T-Note
Resistance should appear near 105-23 and 106-07 which should cap a rally for a bit..Beyond that sellers should appear near 106-23
Support is at 104-23 and 104-07 , a close under 104-07 is negative and augurs for a test of
103-23 and 103-04 which should contain a decline for a bit… .
August Gold
Recommended open BW position , long at 323.1
Support should appear at 327 to 326.1 then 321.3 to 319.4
Resistance is at 331.9 to 332.8 and 337.7 to 338.6..
BW Traders should go long / add if a close over 333.3 occurs
Recommended open BW position Short at 7320.
Support should appear near the 7690 to 7675 and 7605 to 7580
Resistance should appear near the 7760 to 7780 region and 7835 to 7865 which should Cap a rally for a bit.
Support should appear near 506.5 to 503.5 and 499.5 to 497.. . BW Traders can buy at 499.5 and hold for higher prices..
Resistance is at 512.5 to 514 .. Beyond that an eventual test of the 520 to 521.5 region is likely
Aggressive BW Traders should go long if a close over 514.5 occurs. ..
Stay tuned for Updates
The Exciting Energies
July Crude Oil
Recommended open BW position , long at 2622
Support should appear near 2469 to 2461 under that 2419 2411 should contain a decline for a bit..
Resistance is at 2512 to 2519 and 2552 to 2568
July Unleaded Gas
Support should appear near 7430 to 7410 and 7355 to 7240 .
Resistance is at 7515 and 7675 to 7690 ..
July Heating Oil
Resistance is at 6415 to 6430 and 6485 to 6515 .
Support should appear near 6350 to 6335 and 6270 to 6255 .
The Lively Livestock
August Live Cattle
Support should appear at6222 to 6192 and 6117 to 6102 .
Resistance is at 6257 to 6272 and 6337 to 6352
July Hogs
Support is at 4797 to4772 and 4717 to 4692
Resistance is at 4857 and the 4912 to 4927 region. BW Traders can sell at 4972 and risk a close over 5072 for three days in a row.
July Pork Bellies
Support should appear at 5807 to 5792 and 5732 to 5712
Resistance is at 5852 to 5882 and 5942 to 5957, beyond that sellers should appear near 6022 to 6037
-Stay tuned for Livestock and Belly Updates and Flashes-
The Grande’ Grains
July Soybeans
Recommended open BW position , long at 493
Resistance is at the 506 3/4 and the 512 3/4 to 513 3/4 region..
Support should appear at 503 3/4.. Under that buyers should appear near 499 1/2 to 4971/2 . BW Traders can buy at 497 1/2 and hold for higher prices..
BW Traders should go long if a close over 514 1/4 occurs
Recommended open BW position , long at 167.1
Support should appear near 165.5 to 164.2,which should contain a decline for a bit.. BW Traders can buy at 165.8 and risk a close under 163.8 for three days in a row.
Resistance is at 168..9 to 169.6 region and 173.1 to 173.8
July Soybean Oil
Support is near 1822 to 1808..BW Traders can buy at 1823 and hold for higher prices.. Below that support should appear near the 1780 to 1774 region.
Resistance should appear near 1858 to 1865
July Corn
Recommended open BW position , long 2 at 211 1/4 avg
Resistance should appear near 212 3/4 to 213 1/2
Support is at 208 3/4 to 208
July Wheat
Recommended open BW position , long at 282 1/4
Support should appear at to 282 3/4 to 282
Resistance is at 287 1/2 to 288 1/4 . An extended trade over 288 1/2 is friendly and indicates a test of
292 3/4 to 293 3/4
The Satisfying Softs
July Cocoa
Resistance is at the 1609 to 1615 ,
Support should appear near 1576 to 1569 and the 1535 to 1529 region. BW Traders can buy at 1537 and risk a close under 1479 for three days in row
BW Traders should go long if a close over 1617 occurs..
Recommended open BW position , long at 5145
Support is near 5065 to 5035 , under that buyers should appear near 4995 to 4970 ..BW Traders can buy at 5005 and risk a close under 4905 for three days in a row.
Resistance should appear near 5125 to 5140 and 5200 to 5215
Aggressive BW Traders should go long if a close over 5225 occurs..
Recommended open BW position , long at 591
Support should appear near 562 to 558.. BW Traders can buy at 574 and hold for higher prices.. Under that support is at 538 to 534.
Resistance should appear near 582 to 586 and 601 to 609
July Cotton
Support should appear near 3870 to 3855 and the 3810 to 3795 region.. BW Traders can buy at 3815 for a bounce and risk a close under 3720 for three days in a row..
Resistance is at 3980 to 3995 and the 4045 to 4065 region.... Beyond that a test of 4110 to 4120 is likely.
Trade Accordingly and stay tuned for updates..
Happy Trading !
Bill
bill@futurescom.com
1--561-433-2995
Monday June 3rd, 2002
8:50 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.