wmeubank@ocp.kcmo.com
THE WINDY CITY WORKSHEET
DECEMBER CORN: Trend neutral.Support 2.53¾. Resistance 2.69. Good harvest weather stalls momentum, for now.
NOVEMBER SOYBEANS: Trend neutral. Support 6.20. Resistance 6.43. Demand strong. Buy March 725 calls at market.
DECEMBER SOYMEAL: Trend neutral. Support 197.00. Resistance 207.80. Tests support (short term). Good buy (long term).
DECEMBER BEAN OIL: Trend up. Support 23.30. Resistance 24.48. Long term demand looks great. Wait for slight pullback.
DECEMBER WHEAT: Trend neutral. Support 3.54. Resistance 3.78½. Right into support. Possible bottom?
DECEMBER OATS: Trend neutral. Support 1.50. Resistance 1.65. Just biding its time here.
DECEMBER LIVE CATTLE: Trend down. Support 69.00. Resistance 67.75. Due for a slight correction. Might test 6900.
NOVEMBER FEEDER CATTLE: Trend neutral-down. Support 78.55. Resistance 82.70. One last rally, then good downside.
DECEMBER LIVE HOGS: Trend neutral-down. Support 64.25. Resistance 66.40. Demand firming up.
FEBRUARY PORK BELLIES: Trend down. Support 62.00. Resistance 68.80. Stick with hogs, less volatile. Near a bottom?
DECEMBER BRITISH POUND: Trend neutral-up. Support 157.22. Resistance 162.50. Tested lows. Held. Could see 165-166 soon.
DECEMBER SWISS FRANC: Trend neutral-up. Support 68.33. Resistance 70.15. Trying to rally. Might test highs.
DECEMBER JAPANESE YEN: Trend neutral-down. Support 82.23. Resistance 84.60. Weakest of the group. Could crash within the month.
DECEMBER DEUTSCHEMARK: Trend neutral-up. Support 55.80. Resistance 57.88. Trying to hold the complex, weakening.
DECEMBER CANADIAN DOLLAR: Trend neutral-up. Support 72.00. Resistance 72.88. Should support.
DECEMBER U.S. DOLLAR: Trend neutral-down. Support 96.40. Resistance 98.55. Needs to hold above support.
DECEMBER EURODOLLARS: Trend neutral-up. Support 94.12. Resistance 94.22. Narrow range. Short term-down. Long term- up.
DECEMBER U.S. BONDS: Trend neutral-up. Support 113.15. Resistance 116.15. Could test support. Decent buy at 113.16.
DECEMBER NYFE: Trend up. Support 491.00. Resistance 507.20. Continues choppy. Bias upside.
DECEMBER S&P: Trend up. Support 910.25. Resistance 972.20. All looking for a crash. Correction should be mild.
DECEMBER GOLD: Trend up. Support 330.00. Resistance 340.00. Correcting oversold condition. Should test $350.
DECEMBER SILVER: Trend up. Support 5.08. Resistance 5.50. Breaking out. Needs to close over 5.34 to accelerate.
DECEMBER COPPER: Trend neutral. Support 93.30. Resistance 100.00. Should have trouble breaking over 100.00 for now.
DECEMBER PALLADIUM: Trend neutral. Support 182.50. Resistance 207.50. Won't see $225 again for a long time.
JANUARY PLATINUM: Trend neutral-up. Support 403.00. Resistance 435.00. Could see $460 if $435 is broken.
NOVEMBER LUMBER: Trend down. Support 280.00. Resistance 320.00. Timber!
DECEMBER HEATING OIL: Trend up. Support 57.00. Resistance 60.30. 6300-6400? If resistance is broken.
DECEMBER UNLEADED GAS: Trend up. Support 56.70. Resistance 60.00. Still strong. Heating oil better seasonal now.
DECEMBER NATURAL GAS: Trend neutral-up. Support 290.00. Support 350.00. Too pricey right now. Wait for 270-280.
DECEMBER CRUDE OIL: Trend up. Support 19.75. Resistance 22.00. Good underlying support between 1950-2000.
DECEMBER COCOA: Trend neutral-up. Support 16.11. Resistance 17.30. In a range waiting. Bad El Nino = 2000 versus no El Nino = 1350.
MARCH SUGAR: Trend down. Support 11.26. Resistance 12.01. Seasonal weakness fading. Possibly near a bottom.
DECEMBER COTTON: Trend neutral. Support 72.30. Resistance 74.60. Another typical false breakout in New York softs!
NOVEMBER ORANGE JUICE: Trend neutral-up. Support 67.90. Resistance 74.00. Wait for a slight correction to buy January.
DECEMBER COFFEE: Trend neutral. Support 154.50. Resistance 189.00. Similar to cocoa and sugar. Adequate supplies for now.
September 30, 1997Stephen and William Frejlich
The Windy City Trader
P.O. Box 1673, Chicago, Illinois
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Last updated on 10-04-97
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