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COMMODITY REVIEW AND OUTLOOK
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(September 24, 1997) PORK BELLIES: SHORT TERM–Weak cash continues to press the bellies. However, profit-taking is providing support.
RESISTANCE–Resistance basis February 6445, 6480, 6640-6660, 6697, 6765-6805, 6860, 6900, 6977.
SUPPORT–Support February support is 6200, 6150-6120.
RECOMMENDATION–Conservative traders shouldn't trade the belly market. Aggressive traders might buy near 6300 with stops of 100-200 points or under about 6200. Look for a rally to the mid-upper 6800's.
M. Steven Morgan
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Last updated on 09-28-97
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