U.S. Dollar Slightly Higher Early
CURRENCIES
The March U.S. dollar index is slightly firmer in early trading. Slow stochastics are bullish for today. The dollar index finds shorter-term technical resistance at the overnight high of 84.28 and then at 84.50. Shorter-term support is seen at the overnight low of 84.01 and then at Tuesday's low of 83.81. Wyckoff's Intra Day Market Rating: 4.0
The March Euro is slightly higher in early electronic trading. The Euro finds sell stop orders are likely located just below technical support at the overnight low of 1.3135 and then more stops just below support at 1.3100. Shorter-term technical resistance for the Euro is seen at the overnight high of 1.3181 and then at Tuesday's high of 1.3207. Buy stops likely reside just above those levels. Slow stochastics for the Euro are bearish early today. Wyckoff's Intra Day Market Rating: 6.0
METALS
Gold is slightly higher in early trading today, on a tepid bounce after big losses Tuesday. In April gold, shorter-term technical support is seen at Tuesday's low of $659.00 and then at $655.00. Sell stops likely reside just below those levels. Buy stops likely reside just above resistance at the overnight high of $665.00 and then just above resistance at $670.00. Wyckoff's Intra-Day Market Rating: 5.0
CRUDE OIL
Crude oil prices are lower in early electronic dealings. Bulls are fading. In April crude, look for buy stops to reside just above resistance at $59.00 and then just above resistance at $59.50. Look for sell stops just below technical support at $58.00, and then more sell stops just below support at $57.50. Wyckoff's Intra-Day Market Rating: 4.0
GRAINS
Prices were mixed overnight. Corn and soybeans are still technically bullish, amid the specter of fresh fund buying coming into the market at any time. Soybeans have taken over the leadership role in the grain markets. Also, long-range weather forecasts for the Corn Belt planting and growing seasons are starting to be issued, and they are favoring the bullish side. But look for bouts of profit-taking pressure at these higher price levels. Wheat is still technically weaker at present, but bulls have gained some momentum, and amid the strength in corn and beans. Grain traders will continue to closely watch the "outside markets" today (gold, crude oil).


Name: Jim Wyckoff 






