The September U.S. dollar index is lower in early morning dealings. Slow stochastics are bearish for today. The dollar index finds shorter-term technical resistance at the overnight high of 84.94 and then at Monday’ high of 85.20. Shorter-term support is seen at the overnight low of 84.80 and then at 84.50. Wyckoff’s Intra Day Market Rating: 4.0
The September Euro is higher in early trading. The Euro today finds sell stop orders are likely located just below shorter-term technical support at 1.2800 and then just below Monday’s low of 1.2771. Shorter-term technical resistance for the Euro is seen at the overnight high of 1.2855 and then at 1.2877. Buy stops likely reside just above those levels. Slow stochastics for the Euro are bullish for today. Wyckoff’s Intra Day Market Rating: 6.0
Gold is trading firmer in early morning dealings. In December gold, shorter-term technical support is seen at Monday’s low of $621.00 and then at the August low of $616.50. Sell stops likely reside just below those levels. Buy stops likely reside just above resistance at $637.50 and then more buy stops just above resistance at $630.00. Wyckoff’s Intra-Day Market Rating: 5.5
Crude oil prices are trading near steady in early electronic dealings, following sharp losses Monday as Hurricane Ernesto faded and headed away from Gulf energy installations. I don’t look for much more downside in crude oil below the $70.00 level. In October crude, look for buy stops to reside just above resistance at $71.00 and then just above resistance at $71.50. Look for sell stops just below technical support at the overnight low of $70.40, and then more sell stops just below support at the June low of $70.10. Wyckoff’s Intra-Day Market Rating: 4.0
Prices were mostly firmer in overnight electronic trading. Corn was steady and wheat and soybeans were slightly higher. Wheat has made a strong rebound as it appears near-term lows are in place. However, wheat is short-term overdone on the upside and could see a pullback as soon as today. Corn bulls are trying to put in a near-term low, but need to show power soon. Soybeans are still the weak sister of the complex. Seasonal studies do favor the corn and bean bears this time of year, as harvest is set to begin for those crops.