Name: Jim Wyckoff 
This Week is Key for Grain Futures Markets
GRAINS
Prices were sharply lower higher in overnight trading, including corn trading limit down. This week is historically one of the more important trading weeks of the year in the grains, and the bears are starting out in firm command. Weather in the U.S. Corn Belt is now being deemed benign heading into the key growing period of the summer, especially for corn. "Outside markets" today are also bearish--lower crude oil and a stronger U.S. dollar. Make sure to read my Daily Markets Update report at the end of the day for more perspective on grains to begin this key trading week after the Fourth of July holiday.
CURRENCIES
The September U.S. dollar index is higher in early trading today. Slow stochastics for the dollar index are bullish early today. The dollar index finds shorter-term technical resistance at the overnight high of 73.45 and then at 73.75. Shorter-term support is seen at the overnight low of 72.99 and then at the June low of 72.75. Today's key near-term Fibonacci support/resistance level: 73.54. Wyckoff's Intra Day Market Rating: 6.0
The September Euro is lower in early electronic trading. Euro finds sell stop orders are likely located just below technical support at the overnight low of 1.5555 and then just below support at 1.5500. Shorter-term technical resistance for the Euro is seen at the overnight high of 1.5658 and then at 1.5700. 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: 1.5446. Wyckoff's Intra Day Market Rating: 4.0
GOLD
Gold is solidly lower in early dealings today. For August gold, shorter-term technical resistance is seen at $925.00 and then at $930.00. Buy stops likely reside just above those levels. Sell stops likely reside just below support at the overnight low of $920.10 and then at $915.00. Today's key near-term Fibonacci support/resistance level: $912.40. Wyckoff's Intra-Day Market Rating: 3.5
CRUDE OIL
Crude oil prices are solidly lower early today, on profit-taking pressure from recent gains. In August crude, look for buy stops to reside just above resistance at the overnight high of $144.53 and then just above resistance at the contract and all-time high of $145.85. Look for sell stops just below technical support at the overnight low of $142.01 and then more sell stops just below support at $140.00. Today's key near-term Fibonacci support/resistance level: $140.60. Wyckoff's Intra-Day Market Rating: 3.5
