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 the overnight high of 85.65 and then at Monday’s high of 85.76. Shorter-term support is seen at the overnight low of 85.37 and then at 85.26. Wyckoff’s Intra Day Market Rating: 7.0
The December Euro is lower in early trading. The Euro today finds sell stop orders are likely located just below shorter-term technical support at the overnight low of 1.2714 and then just below support at last week’s low of 1.2695. Shorter-term technical resistance for the Euro is seen at the overnight high of 1.2790 and then at last week’s high of 1.2820. Buy stops likely reside just above those levels. Slow stochastics for the Euro are bearish for today. Wyckoff’s Intra Day Market Rating: 3.0
Gold is trading lower in early morning dealings. In December gold, shorter-term technical support is seen at the overnight low of $587.40 and then at $585.00. Sell stops likely reside just below those levels. Buy stops likely reside just above resistance at the overnight high of $595.20 and then heavier buy stops just above major resistance at $600.00. Wyckoff’s Intra-Day Market Rating: 3.5
Crude oil prices are trading firmer in early electronic dealings, on more tepid short covering in a bear market. Bears are still in firm near-term technical command. In October crude, look for buy stops to reside just above resistance at $65.00 and then just above resistance at $65.50. Look for sell stops just below technical support at $64.00, and then more sell stops just below support at $63.50. Wyckoff’s Intra-Day Market Rating: 3.0
Prices were mostly higher in overnight electronic trading, on follow-through strength from good gains Monday. There are now some early clues that harvest lows could be in place. But my bias is that there is not strong downside price potential in the grains, but not strong upside price potential, either. That means more “trading range” type of activity in the coming weeks.