U.S. Dollar Lower Again in Early Trading
CURRENCIES
The December U.S. dollar index is lower in early trading, and hit another fresh contract low overnight. Slow stochastics are neutral early today. The dollar index finds shorter-term technical resistance at the overnight high of 78.21 and then at this week's high of 78.56. Shorter-term support is seen at 78.00 and then at 77.75. Today's key near-term Fibonacci support/resistance level: 78.65 Wyckoff's Intra Day Market Rating: 1.0
The December Euro is higher in early electronic trading and hit another fresh contract and all-time high overnight. The Euro finds sell stop orders are likely located just below technical support at the overnight low of 1.4166 and then more stops just below support at 1.4133. Shorter-term technical resistance for the Euro is seen at the overnight contract high of 1.4218 and then at 1.4250. Buy stops likely reside just above those levels. Slow stochastics for the Euro are neutral early today. Today's key near-term Fibonacci support/resistance level: 1.4078. Wyckoff's Intra Day Market Rating: 8.0
GOLD
Gold is trading higher in early dealings today. For December gold, shorter-term technical support is seen at the overnight low of $740.00 and then at $737.50. Sell stops likely reside just below those levels. Buy stops likely reside just above resistance at last week's high of $747.10 and then just above resistance at $750.00. Today's key near-term Fibonacci support/resistance level: $733.70. Wyckoff's Intra-Day Market Rating: 8.0
CRUDE OIL
Crude oil prices are near steady in early electronic dealings. In November crude, look for buy stops to reside just above resistance at Thursday's contract high of $83.09 and then just above resistance at $83.50. Look for sell stops just below technical support at $82.40, and then more sell stops just below support at $82.00. Today's key near-term Fibonacci support/resistance level: $81.34. Wyckoff's Intra-Day Market Rating: 7.0
GRAINS
Prices were steady to lower in overnight trading. Traders are awaiting this morning's USDA quarterly grain stocks report, which is expected to be friendly for the markets--showing strong worldwide demand amid tight supplies. Corn, soybeans and wheat remain fully bullish with no early technical clues that market tops are close at hand.


Name: Jim Wyckoff 






