U.S. Dollar Resumes Weak Ways
CURRENCIES
The December U.S. dollar index is lower in early trading. Bears still have solid near-term technical control of the index. Slow stochastics are neutral for today. The dollar index finds shorter-term technical resistance at the overnight high of 83.42 and then at 84.68. Shorter-term support is seen at the contract low of 82.95 and then at 82.75. Wyckoff's Intra Day Market Rating: 1.5
The December Euro is higher in early electronic trading. The Euro finds sell stop orders are likely located just below technical support at the overnight low of 1.3153 and then more stops just below support at 1.3099. Shorter-term technical resistance for the Euro is seen at the contract high of 1.3231 and then at 1.3250. Buy stops likely reside just above those levels. Slow stochastics for the Euro are neutral early today. Wyckoff's Intra Day Market Rating: 8.0
METALS
Gold is trading higher in trading early today. In December gold, shorter-term technical support is seen at $638.00 and then at the overnight low of $635.00. Sell stops likely reside just below those levels. Buy stops likely reside just above resistance at this week's high of $641.90 and then more buy stops just above technical resistance at $645.00. Wyckoff's Intra-Day Market Rating: 6.5
CRUDE OIL
Crude oil prices are slightly higher in early electronic dealings. Bulls are gaining fresh upside technical momentum this week. In January crude, look for buy stops to reside just above resistance at $63.00 and then just above resistance at $63.50. Look for sell stops just below technical support at the overnight low of $62.20, and then more sell stops just below support at $61.50. Wyckoff's Intra-Day Market Rating: 6.0
GRAINS
Prices were solidly higher overnight. Price action Wednesday reinforced notions that the bulls still have the firm technical advantage in the grains. Some mild profit taking-pressure at the end of the month and the end of the year did occur earlier this week, but the dip was deemed a buying opportunity by the bulls. The corn and soybean markets have not experienced any significant price "correction" since the runup began earlier this fall. That significant correction is coming at some point, however.


Name: Jim Wyckoff 






