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))
Wednesday’s head & shoulders resolved down overnight by sliding sharply into and out Thursday’s ECB policy statement. Probing a new low under 1.0825 didn’t prevent recovering entirely up to 1.1000 and reversing well into positive territory attacking 1.1220. Extending further Friday is unlikely before testing 1.1105 as support.

Gold Apr Contract (GC, ETF: (GLD))
The 1252.00 pullback limit’s retest didn’t undermine the likely retest of the 1277.50-1288.00 target area, which resumed Thursday morning after the ECB reaction. Already testing 1274.00, the target area’s upper-end should be attacked next.

Silver May Contract (SI, ETF: (SLV))
Bouncing Thursday morning extended to attack 15.70, and now a deeper downleg would be triggered under 15.45.

30-year Treasury Jun Contract (US, ETF: (TLT))
Thursday’s volatility tried rallying, twice testing 163-26, but soon reversed down into negative territory under 162-27 to probe a fresh low at 161-19. Closing back above 162-07 would signal that sellers were absorbed, and back above 162-20 would again trigger a buy signal.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Reacting down Thursday morning to new held a test of the 37.50 pullback limit before recovering back to the 38.15 area prior highs. Having formed an Ascending Triangle, at least a brief probe of fresh highs is likely.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
Greeting Thursday’s EIA report from a position of strength above 1.70 and under 1.80 didn’t extend the recovery but it did help to absorb any shock from the news so that probing 1.80 Friday would be likely to trend higher intraday.