The December U.S. dollar index is firmer in early morning dealings. Slow stochastics are bullish for today. The dollar index finds shorter-term technical resistance at Tuesday’s high of 85.53 and then at the September high of 85.82. Shorter-term support is seen at 85.25 and then at Tuesday’s low of 84.96. Wyckoff’s Intra Day Market Rating: 6.0
The December Euro is slightly lower in early trading. The Euro today finds sell stop orders are likely located just below technical support at Tuesday’s low of 1.2718 and then more sell stops just below solid support at last week’s low of 1.2695. Shorter-term technical resistance for the Euro is seen at 1.2800 and then at 1.2850. Buy stops likely reside just above those levels. Slow stochastics for the Euro are bearish for today. Wyckoff’s Intra Day Market Rating: 4.0
Gold is trading higher in early morning dealings, amid higher crude oil prices. In December gold, shorter-term technical support is seen at the overnight low of $595.40 and then at $590.00. Sell stops likely reside just below those levels. Buy stops likely reside just above solid resistance at the overnight high of $602.70 and then more buy stops just above shorter-term resistance at $605.00. Wyckoff’s Intra-Day Market Rating: 6.0
Crude oil prices are higher in early electronic dealings, on short covering. Bears are still in near-term technical command. In November crude, look for buy stops to reside just above resistance at $62.00 and then just above resistance at $62.50. Look for sell stops just below technical support at the overnight low of $61.10, and then more sell stops just below support at $60.50. Wyckoff’s Intra-Day Market Rating: 3.0
Prices were mixed in overnight electronic trading. Bears still have the near-term technical advantage in soybeans, and bulls have gained some momentum in corn and wheat this week. The strength in corn recently has been surprising, coming right during harvest. But my bias is still that there is not strong upside potential in corn and beans in the coming weeks.