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 84.75 and then at 85.00. Shorter-term support is seen at Friday’s low of 84.48 and then at last week’s low of 84.28. Wyckoff’s Intra Day Market Rating: 4.0
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 1.2850 and then just below support at last week’s low of 1.2833. Shorter-term technical resistance for the Euro is seen at 1.2900 and then at the overnight high of 1.2940. Buy stops likely reside just above those levels. Slow stochastics for the Euro are neutral for today. Wyckoff’s Intra Day Market Rating: 6.0
Gold is trading higher in early morning dealings. Prices hit a fresh three-week high overnight. In December gold, shorter-term technical support is seen at the overnight low of $634.10 and then at $630.00. Sell stops likely reside just below those levels. Buy stops likely reside just above resistance at $640.00 and then more buy stops just above resistance at $643.00. Wyckoff’s Intra-Day Market Rating: 7.0
Crude oil prices are trading firmer in early electronic dealings, on short covering following recent sharp losses. I still 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 $69.00 and then just above resistance at $69.50. Look for sell stops just below technical support at $68.00, and then more sell stops just below support at last week’s low of $67.77. Wyckoff’s Intra-Day Market Rating: 5.0
Prices were mixed in overnight electronic trading. Wheat and corn were solidly higher and soybeans were weaker. Wheat bulls have near-term power and are looking for more on the upside soon. Corn bulls are working on putting in a near-term low, and have shown good power to suggest a near-term low is in place. Soybeans are still the weak sister of the complex, but if corn and wheat continue to rally, soybeans could find a near-term low and at least start to trade sideways. Seasonal studies favor the corn and bean bears this time of year, as harvest is set to begin for those crops.