Crude Oil Prices Lower in Early Dealings
CRUDE OIL
Crude oil prices are solidly lower in early electronic dealings, on a profit-taking pullback. In November crude, look for buy stops to reside just above resistance at the overnight high of $80.62 and then just above resistance at $81.00. Look for sell stops just below technical support at $79.50, and then more sell stops just below support at $79.00. Today's key near-term Fibonacci support/resistance level: $79.26. Wyckoff's Intra-Day Market Rating: 4.0
CURRENCIES
The December U.S. dollar index is slightly lower in early trading. Slow stochastics are neutral early today. The dollar index finds shorter-term technical resistance at the overnight high of 78.57 and then at 78.73. Shorter-term support is seen at the contract low of 78.24 and then at 78.00. Today's key near-term Fibonacci support/resistance level: 78.82 Wyckoff's Intra Day Market Rating: 1.0
The December 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 1.4081 and then more stops just below support at 1.4061. Shorter-term technical resistance for the Euro is seen at the contract high of 1.4152 and then at 1.4200. Buy stops likely reside just above those levels. Slow stochastics for the Euro are bearish early today. Today's key near-term Fibonacci support/resistance level: 1.4079. Wyckoff's Intra Day Market Rating: 7.0
GOLD
Gold is trading solidly lower in early dealings today, on profit-taking pressure from recent gains. For December gold, shorter-term technical support is seen at the overnight low of $729.20 and then at $725.00. Sell stops likely reside just below those levels. Buy stops likely reside just above resistance at $735.00 and then just above resistance at the overnight high of $738.50. Today's key near-term Fibonacci support/resistance level: $725.00. Wyckoff's Intra-Day Market Rating: 4.0
GRAINS
Prices were weaker in overnight trading. Corn and beans saw selling pressure on reports of good harvest progress in the U.S. Corn Belt. Wheat saw a profit-taking pullback from recent gains. All three markets are technically fully bullish. However, seasonality factors are solidly against the corn and bean bulls, amid harvest pressure. Wheat futures are in a very mature bull market that does appear "toppy."


Name: Jim Wyckoff 






