Crude oil prices are sharply lower early today, and hit a fresh six week low overnight. Bulls have faded badly recently.
In August crude, look for buy stops to reside just above resistance at $64.00 and then just above resistance at $65.00.
Look to sell stops just below technical support at the overnight low of $63.40 and then more sell stops just below support at $63.00.
Today's key near term Fibonacci support/resistance level: $62.31.
Wyckoff's Intra Day Market Rating: 3.0
Free Trend Analysis
The September U.S. dollar index is higher in early trading today. Trading is still choppy, but bears still have the overall near term technical edge.
Slow stochastics for the dollar index are bullish early today. The dollar index finds shorter term technical resistance at 81.25 and then at 81.50. Shorter term support is seen at 80.75 and then at the overnight low of 80.53.
Today's key near term Fibonacci support/resistance level: 80.42.
Wyckoff's Intra Day Market Rating: 6.0
Great Trading Video: The Fibonacci Tool Fully Explained
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