Name: Jim Wyckoff 
Crude Oil, Gold Lower Early
CURRENCIES
The December U.S. dollar index is higher in early morning dealings. Slow stochastics are bullish for today. The dollar index finds shorter-term technical resistance at the September high of 85.82 and then at 86.00. Shorter-term support is seen at 85.50 and then at Thursday's low of 85.25. Wyckoff's Intra Day Market Rating: 7.0
The December Euro is lower in early trading. The Euro today finds heavier sell stop orders are likely located just below solid technical support at the September low of 1.2695 and then more sell stops just below support at 1.2650. Shorter-term technical resistance for the Euro is seen at the overnight high of 1.2767 and then at 1.2800. 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
METALS
Gold is trading lower in early morning dealings, following weaker crude. In December gold, shorter-term technical support is seen at the overnight low of $604.50 and then at $600.00. Sell stops likely reside just below those levels. Buy stops likely reside just above resistance at $610.00 and then more buy stops just above shorter-term resistance at Thursday's high of $612.40. Wyckoff's Intra-Day Market Rating: 4.0
ENERGIES
Crude oil prices are lower in early electronic dealings. In November crude, look for buy stops to reside just above resistance at the overnight high of $62.78 and then just above resistance at $63.00. Look for sell stops just below technical support at $62.00, and then more sell stops just below support at $61.50. Wyckoff's Intra-Day Market Rating: 4.0
GRAINS
Prices were mostly higher in overnight electronic trading, on follow-through buying from solid gains Thursday. Traders are awaiting this morning's USDA quarterly grain stocks report. Bulls now have near-term technical momentum in the grains, as it appears the funds have taken an interest on the long side of these markets again. A weekly high close in the grains today would be significantly bullish to suggest harvest lows are in place.
Comments
I have been given some advice from an investment management company called "Angloamerican Asset Management" who tells me that if I invest in a company called Universal Energy Corp. (UVEC) of about £2,500 for about 12 to 18 months only I would be able to make some money although they will not be asking for money until 18 October this year (a two week period giving the person time to decide whether they would like to go ahead or not). Is this a good idea to go ahead with? As I can't afford to just throw money in the bush, I would be happy for some independent advice from anyone or if you could put me onto someone who would be able to give me some form of advice. I would be extremely grateful especially if Sir Jim Wyckoff would help.
Posted by: Suzannah Manu | October 4, 2006 06:56 AM