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Futures: How Low Can They Go?

Like an immovable object the downtrend weighed on the futuresmarket again on Thursday, completely erasing advances made earlierin the week. That left the September contract down 4.2 cents to$1.831, but more importantly the prompt month continues to plodtoward substantive support in the $1.78-81 area, causing tradersto wonder if that level will hold or be merely a speed bump.

August 7, 1998
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