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Daily Spot… – If, Then… Market Timing

Daily Spot…

A daily summary of high-profile members of several complexes… View a more detailed discussion of each chart at the end of today’s Market Wrap.

Eurodollar Mar Contract (EC, ETF: (FXE, UUP))
Still fluctuating Wednesday around the decline’s 1.0865 likely support, with potential for closing back above 1.0900 to target at least a corrective bounce to 1.1050.

Gold Apr Contract (GC, ETF: (GLD))
Bouncing Wednesday back to 1242.00 neither rejected it nor closed above it, so there’s still room up to 1249.00 before signaling a retest of prior highs up to 1265.00.

Silver May Contract (SI, ETF: (SLV))
Firming Wednesday recovered back up to Tuesday morning’s highs, still needing to recover 15.15 to target 15.70.

30-year Treasury Jun Contract (US, ETF: (TLT))
Ranging narrowly Wednesday around 162-14 didn’t extend Tuesday’s drop to confirm it, but recovering 163-14 would still signal the decline had ended, and back above 163-24 would reverse momentum back up.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Fluctuating wildly around unchanged Wednesday did probe a fresh high that allows raising the sell signal 50 cents to 33.00. That doesn’t prevent breaking higher from the Symmetrical Triangle pattern that has formed, but the likelier resolution is still down.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
Tuesday’s late surge that never extended higher was retraced entirely overnight, but no changes were made to the pattern that would still trigger a rally above 1.80.