CURRENCIES

The September U.S. dollar index is slightly higher in early morning electronic dealings. Dollar index bulls are losing some near-term technical momentum. Slow stochastics still show the DX as short-term overbought and are turning bearish. The dollar index finds shorter-term technical resistance at this week's high of 86.51, and then at last week's high of 86.68. Shorter-term support is seen at Tuesday's low of 85.90. The September Euro today finds sell stop orders are likely located just below shorter-term technical support at 1.2600 and then more sell stops just below support at this week's low of 1.2575. Shorter-term technical resistance for the Euro is seen at Tuesday's high of 1.2689 and then at 1.2700. Buy stops likely reside just above those shorter-term resistance levels. Slow stochastics for the Euro are turning bullish.

METALS

The metals are trading firmer in early morning dealings. In August gold, prices would have to push and close back above solid resistance at $600.00 to give the bulls fresh upside technical momentum. Key shorter-term technical support for August gold today is the overnight low of $581.30. Sell stops likely reside just below that level, and then just below support at $575.00. Buy stops likely reside just above resistance $590.00 and then just above shorter-term resistance at $599.00--Tuesday's high.

ENERGIES

Prices are trading slightly higher in early electronic dealings. Focus today will be on the morning release of the weekly DOE stocks data. In August crude, look for buy stops to reside just above resistance at Tuesday's high of $72.50 and then at just above resistance at $73.00. Look for sell stops just below shorter-term support at Tuesday's low of $71.60, and then just below solid support at $71.00. I look for more trading within the recent well-defined range-- bound by key near-term support at last week's low of $68.65 in August crude and solid resistance at $73.00. But a drop below the aforementioned trading range--including multiple closes below it--would then likely mean a trading range in crude oil prices between $65.00 and $70.00.

GRAINS

Prices were narrowly mixed in overnight electronic trading. While non-threatening near-term weather in the Corn Belt at present is bearish and has limited buying interest, there are some forecasters calling for a hotter and drier weather pattern in the Corn Belt to start the key growing month of July. That may limit selling interest today. Trading today and Thursday week will be more subdued ahead of Friday's all-important USDA updated acreage reports. Look for a very active trading day on Friday.