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THE WINDY CITY
WORKSHEETDECEMBER CORN: Trend up. Support
2.77¾. Resistance 2.95. Long-term promising; short term must
hold $2.80.
JANUARY SOYBEANS: Trend up. Support 6.79. Resistance
7.33. Supplies tight. Short term hurt by stock
volatility.
DECEMBER SOYMEAL: Trend up. Support 218.80.
Resistance 239.00. Needs demand to pick up soon.
DECEMBER SOYBEAN
OIL: Trend up. Support 24.31. Resistance 25.93. Breaking out. Wait
for slight correction.
DECEMBER WHEAT: Trend neutral. Support
3.48½. Resistance 3.79½. Too many countries peddling
wheat. Stay on beans and corn.
DECEMBER OATS: Trend neutral-up.
Support 1.60½. Resistance 1.72. Not enough movement for
trading right now.
DECEMBER LIVE CATTLE: Trend neutral. Support
65.57. Resistance 68.00. Very weak long-term
fundamentals.
NOVEMBER FEEDER CATTLE: Trend neutral. Support
76.40. Resistance 79.20. Plenty available on the
feedlots.
DECEMBER LIVE HOGS: Trend neutral-down. Support 60.00.
Resistance 64.00. Struggling. Wait for more strength.
FEBRUARY
PORK BELLIES: Trend neutral. Support 58.00. Resistance 66.00.
Range-bound for a while. No fresh news.
DECEMBER BRITISH POUND:
Trend up. Support 163.66. Resistance 168.50. Good follow through on
rally. Might slow down for a while.
DECEMBER SWISS FRANC: Trend
neutral. Support 70.20. Resistance 72.35. Should fall right
back.
DECEMBER JAPANESE YEN: Trend neutral-down. Support 82.30.
Resistance 84.80. Rallying on U.S. stock weakness.
DECEMBER
D-MARK: Trend neutral. Support 57.12. Resistance 58.80. Weak
economy. Slight rally on U.S. weakness.
DECEMBER CANADIAN DOLLAR:
Trend down. Support 70.75. Resistance 72.00. Dragged down by weak
U.S. and Canadian stocks.
DECEMBER U.S. DOLLAR: Trend
neutral-down. Support 94.75. Resistance 97.50. Temporary break.
Still strongest currency going.
DECEMBER EURODOLLARS: Trend
neutral-up. Support 94.06. Resistance 94.41. Tight ranges. Buy near
support. Sell near resistance.
DECEMBER U.S. T-BONDS: Trend up.
Support 114.16. Resistance 119.02. Flight to quality has
strengthened.
DECEMBER NYFE: Trend neutral-down. Support 444.00.
Resistance 509.50. Took a solid uppercut to the chin.
DECEMBER
S&P: Trend neutral-down. Support 844.00. Resistance 942.00. Crash?
So far just a thud!
DECEMBER GOLD: Trend down. Support 308.00.
Resistance 324. Can't seem to sustain anything. Scalp for small
profits.
DECEMBER SILVER: Trend down. Support 4.57. Resistance
5.08. Can't seem to push above $5.50.
DECEMBER COPPER: Trend
down. Support 87.90. Resistance 100.00. Also hurt by mini-
crash.
DECEMBER PALLADIUM: Trend up. Support 199.00. Resistance
224.50. Maybe $150 by March.
JANUARY PLATINUM: Trend down.
Support 384.00. Resistance 419.00. Took away 2-month gain in 3
days.
JANUARY LUMBER: Trend neutral-down. Support 300.00.
Resistance 334.00. Weak stocks are holding back (sounds
familiar).
JANUARY HEATING OIL: Trend neutral. Support 55.30.
Resistance 60.80. Very close. Buy near 5700.
JANUARY UNLEADED
GAS: Trend neutral. Support 56.80. Resistance 59.75. Seasonal
strength waning. Wait until spring.
JANUARY NATURAL GAS: Trend
up. Support 329.00. Resistance 373.00. Too high priced. Too
volatile.
JANUARY CRUDE OIL: Trend neutral. Support 20.15.
Resistance 21.65. Falling back nicely. Be patient.
DECEMBER
COCOA: Trend neutral. Support 15.74. Resistance 16.81. Best of the
softs. Nearly a buy.
MARCH SUGAR: Trend neutral. Support 12.03.
Resistance 11.46. Won't go anywhere for a while.
DECEMBER COTTON:
Trend neutral. Support 70.80. Resistance 72.75. Needs to push
through resistance; soon!
JANUARY ORANGE JUICE: Trend neutral.
Support 69.10. Resistance 75.70. Trying to form a
bottom.
DECEMBER COFFEE: Trend down. Support 146.00. Resistance
159.00. Needs an El Nino spark to rally.
October 28,
1997
Stephen Connell and William Frejlich The Windy City
Trader P.O. Box 1673, Chicago, Illinois
Technical Corner Index
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