CURRENCIES
The December U.S. dollar index is weaker in early trading. Bulls are fading a bit. Slow stochastics are bearish for today. The dollar index finds shorter-term technical resistance at the overnight high of 86.72 and then at 87.00. Shorter-term support is seen at the overnight low of 86.58 and then at 86.50. Wyckoff’s Intra Day Market Rating: 6.0
The December Euro is slightly higher in early electronic trading. Bears still have the slight near-term technical edge. The Euro finds sell stop orders are likely located just below technical support at 1.2550 and then more stops just below support at last week’s low of 1.2526. Shorter-term technical resistance for the Euro is seen at 1.2600 and then at 1.2621. Buy stops likely reside just above those levels. Slow stochastics for the Euro are neutral for today. Wyckoff’s Intra Day Market Rating: 4.5
METALS
Gold is trading slightly higher early today. Prices hit a fresh two-week high again overnight. In December gold, shorter-term technical support is seen at the overnight low of $598.20 and then at $595.00. Sell stops likely reside just below those levels. Buy stops likely reside just above resistance at the overnight high of $601.60 and then more buy stops just above technical resistance at $605.00. Wyckoff’s Intra-Day Market Rating: 8.0
ENERGIES
Crude oil prices are slightly higher in early electronic dealings. In November crude, look for buy stops to reside just above resistance at the overnight high of $60.54 and then just above resistance at $61.00. Look for sell stops just below technical support at $60.00, and then more sell stops just below support at $59.50. Wyckoff’s Intra-Day Market Rating: 3.5
