As many traders predicted, the futures market continued lowerThursday morning amid a swirl of bearish fundamental factors, whichwere freshly updated Wednesday evening. But the dip wasshort-lived, and afternoon buying bid the spot January contractback up to test resistance, before settling at $1.84, off 0.7 centsfor the day.
Bounce
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Futures ‘Corrective’ Bounce Has Bulls Optimistic
The futures market made gains for the second day in a rowTuesday on what many sources are calling a bit of a technicalcorrection in an otherwise down market. That left the Septembercontract hovering within striking distance of the downtrend linethat has thwarted upward momentum since July 9. September finishedup 2.6 cents to settle at 1.895.
August 5, 1998
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