wmeubank@ocp.kcmo.com
THE WINDY CITY WORKSHEET
DECEMBER CORN: Trend neutral. Support 2.68½. Resistance 2.85. Short-term weak–long-term possible tight supplies.
JANUARY SOYBEANS: Trend neutral-up. Support 6.97½. Resistance 2.85. Could fill gap back to 697½.
DECEMBER SOYMEAL: Trend up. Support 231.20. Resistance 246.20. Strong demand–wait for pull back to buy.
DECEMBER BEAN OIL: Trend up. Support 24.76. Resistance 25.94. Watch out for correction–wait to go long.
DECEMBER WHEAT: Trend neutral-down. Support 3.35. Resistance 3.72. Weak–needs exports to improve.
DECEMBER OATS: Trend down. Support 1.43. Resistance 1.61½. Might creep down to support this week.
DECEMBER LIVE CATTLE: Trend neutral-down. Support 66.45. Resistance 68.00. How long can 66.45 hold as low?
NOVEMBER FEEDER CATTLE: Trend neutral. Support 76.40. Resistance 79.20. Stuck in this range–sell near resistance.
DECEMBER LIVE HOGS: Trend neutral. Support 60.00. Resistance 63.45. Short-term weak–needs to hold support.
FEBRUARY PORK BELLIES: Trend neutral. Support 58.55. Resistance 66.90. Should stay in this range till next year.
DECEMBER BRITISH POUND: Trend up. Support 165.70. Resistance 172.50. Hit first objectives–could test resistance soon.
DECEMBER SWISS FRANC: Trend up. Support 70.20. Resistance 72.60. Shaky U.S. stock market is supporting.
DECEMBER JAPANESE YEN: Trend down. Support 78.94. Resistance 82.30. Freefalling–could see yearly lows soon.
DECEMBER DEUTSCHEMARK: Trend up. Support 57.12. Resistance 60.00. Same as Swiss–helped by U.S. stock jitters.
DECEMBER CANADIAN DOLLAR: Trend neutral-down. Support 70.75. Resistance 72.00. Something is wrong here–should be much stronger.
DECEMBER U.S. DOLLAR: Trend neutral-down. Support 94.65. Resistance 96.70. No fear of rate hike has weakened dollar.
DECEMBER EURODOLLARS: Trend neutral. Support 94.06. Resistance 94.41. Not much of a trend here.
DECEMBER U.S. T-BONDS: Trend up. Support 114.16. Resistance 119.02. Flight to quality continues to support.
DECEMBER NYFE: Trend neutral. Support 474.00. Resistance 501.00. Choppy–trying to rally but nervous.
DECEMBER S&P: Trend neutral. Support 890.00. Resistance 955.00. Only time can ease traders fears.
DECEMBER GOLD: Trend neutral-down. Support 308.00. Resistance 324. It must hold above lows.
DECEMBER SILVER: Trend neutral. Support 4.63. Resistance 5.08. No fresh news–follows gold for lead.
DECEMBER COPPER: Trend down. Support 88.00. Resistance 100.00. 80.00- 82.50 would be a great buy.
DECEMBER PALLADIUM: Trend neutral. Support 190.75. Resistance 225.00. Kind of a waste of margin money right now.
JANUARY PLATINUM: Trend neutral. Support 375.00. Resistance 406.50. Needs more rumors of shortages before rallying.
JANUARY LUMBER: Trend neutral. Support 300.00. Resistance 333.80. Low rates help–weak stocks hurt?
JANUARY HEATING OIL: Trend neutral. Support 56.00. Resistance 60.80. Almost there–buy January near 5700.
JANUARY UNLEADED GAS: Trend neutral. Support 58.00. Resistance 60.90. Stick to heating oil now.
JANUARY NATURAL GAS: Trend neutral. Support 317.00. Resistance 373.00. Very volatile–the S&P of the energies.
JANUARY CRUDE OIL: Trend neutral. Support 20.30. Resistance 21.65. Wait for test of support.
MARCH COCOA: Trend neutral-up. Support 16.05. Resistance 17.70.. Supplies tightening–March looks promising.
MARCH SUGAR: Trend neutral. Support 12.03. Resistance 12.44. Could see 1160 soon.
DECEMBER COTTON: Trend down. Support 68.00. Resistance 72.85. Bearish USDA numbers have stalled.
JANUARY ORANGE JUICE: Trend neutral. Support 69.10. Resistance 78.80. Near a top–longs consider taking profits.
DECEMBER COFFEE: Trend neutral. Support 142.50. Resistance. 171.50. Nothing new–range bound for a while.
November 11, 1997Stephen Connell and William Frejlich
The Windy City Trader
P.O. Box 1673, Chicago, Illinois
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