Consensus - Departments - Technical Corner

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MARCH CORN: Trend neutral-down. Support 2.76. Resistance 2.91. Not much movement now. Wait for lower prices.

MARCH SOYBEANS: Trend neutral. Support 6,94½. Resistance 7.50. Looking to fill lower gap.

MARCH SOYMEAL: Trend neutral. Support 234.40. Resistance 213.70. Short- term weakness.

MARCH BEAN OIL: Trend neutral-down. Support 24.72. Resistance 26.20. More weakness short term.

MARCH WHEAT: Trend down. Support 3.43¾. Resistance 3.70. Trying to bottom. Needs export to pick up first.

MARCH OATS: Trend down. Support 1.48. Resistance 1.70. Falling, along with other grains.

FEBRUARY LIVE CATTLE: Trend down. Support 67.75. Resistance 71.25. Cash very weak. More downside.

JANUARY FEEDER CATTLE: Trend neutral. Support 77.30. Resistance 83.20. Plenty on the feed lots. Don't buy.

FEBRUARY LIVE HOGS: Trend down. Support 60.00. Resistance 63.30. Good potential buy near support.

FEBRUARY PORK BELLIES: Trend down. Support 53.20. Resistance 64.75. Large supplies in storage has kept this market weak.

DECEMBER BRITISH POUND: Trend neutral-up. Support 165.70. Resistance 172.50. Asian weakness starting to hurt upside potential.

DECEMBER SWISS FRANC: Trend neutral-up. Support 70.20. Resistance 72.55. Weak but helped by U.S. Dollar and stock decline.

DECEMBER JAPANESE YEN: Trend down. Support 78.33. Resistance 80.87. Use any minor rallies to get short.

DECEMBER DEUTSCHEMARK: Trend neutral. Support 57.12. Resistance 59.12. Very little upside.

DECEMBER CANADIAN DOLLAR: Trend down. Support 70.00. Resistance 71.37. Needs to hold above 7000.

DECEMBER U.S. DOLLAR: Trend neutral-up. Support 94.65. Resistance 97.05. Too much uncertainty. Stay away.

MARCH EURODOLLAR: Trend neutral-up. Support 93.98. Resistance 94.437. Should start creeping lower.

MARCH U.S. BONDS: Trend up. Support 116.08. Resistance 120.00. Tough resistance near 120. Short-term top.

DECEMBER NYFE: Trend neutral. Support 474.00. Resistance 505.00. May rally a bit but not to old highs.

DECEMBER S&P: Trend neutral. Support 914. Resistance 971.00. Hard to sustain rallies with Asian problems.

FEBRUARY GOLD: Trend down. Support 300.00 Resistance 310. Is market forecasting recession?

MARCH SILVER: Trend neutral. Support 4.77. Resistance 5.57. Large drop coming–soon.

MARCH COPPER: Trend down. Support 82.00. Resistance 92.10. Large supplies in stock. More downside.

MARCH PALLADIUM: Trend neutral. Support 196.00. Resistance 220.50. Extremely overpriced.

JANUARY PLATINUM: Trend down. Support 375.00. Resistance 403.50. Will probably break resistance soon.

JANUARY LUMBER: Trend neutral. Support 300.00. Resistance 334.00. Lower interest rates should support.

JANUARY HEATING OIL: Trend neutral-down. Support 55.30. Resistance 60.80. Nearing a bottom.

JANUARY UNLEADED: Trend neutral. Support 55.00. Resistance 61.00. Better upside in heating oil.

JANUARY NATURAL GAS: Trend down. Support 250.00 Resistance 311.00. And you thought the S&P was volatile.

JANUARY CRUDE: Trend down. Support 19.25. Resistance 20.75. Might not reach support. Close to a bottom.

MARCH COCOA: Trend neutral. Support 15.28. Resistance 16.77. El Nino's fears have dissipated for now.

MARCH SUGAR: Trend neutral. Support 11.95. Resistance 12.44. Big world supplies. Trade from short side.

MARCH COTTON. Trend neutral-down. Support 70.00. Resistance 73.35. Demand picture improves.

JANUARY ORANGE JUICE: Trend neutral-up. Support 75.40. Resistance 86.50. Should see 7000 before 9000.

MARCH COFFEE: Support 136.50. Resistance 158.75. Heads? Tails? As good as any in this market.

November 25, 1997Stephen Connell and William Frejlich

The Windy City Trader

P.O. Box 1673, Chicago, Illinois

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