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))
Testing 1.1105 into Wednesday’s FOMC statement launched a surge to fresh highs above 1.2230 attacking 1.2275. Even the most bearish pattern is unlikely to reverse down immediately, but back under 1.1170 would start forming a Double Top.

Gold Apr Contract (GC, ETF: (GLD))
Despite only hovering optimistically above Sunday night’s 1226.00 low, the reaction to Wednesday’s FOMC statement surged sharply through the 1243.00 bounce limit to test 1260.70 resistance by $2. All of which developed post-close, but a retest of 1288.00 is likely so long as 1250.20 holds as support.

Silver May Contract (SI, ETF: (SLV))
Holding the 15.25 pullback limit enabled a favorable reaction to Wednesday’s FOMC statement. Attacking 15.70 after the close now needs to recover 15.70 through Thursday’s close to even suggest a bigger rally underway.

30-year Treasury Jun Contract (US, ETF: (TLT))
Wednesday’s reaction to the FOMC statement was surprisingly muted, as price ranged narrowly around the gap back to Friday’s 161-16 close that was filled already Tuesday.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Tuesday’s tepid break under the 36.95 sell signal was recovered Wednesday to confirm that a retest of the 39.00 high remains likelier to form a more substantial top, although resistance is already in-play upon filling the gap back to Friday’s 38.60 close.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
Flat, narrow ranging Wednesday is greeting Thursday’s EIA report from a position of strength, having rallied with restrained optimism and still targeting 1.99.