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))
By gapping down within the prior day’s range instead of under it, Thursday’s open was the most bullish development since last week’s high. But it still didn’t react to 1.1190 support, suggesting a deeper pullback to 1.1150-1.1155 remains underway.

Gold Apr Contract (GC, ETF: (GLD))
Probing $5 under the 1216.50-1223.00 target area overnight and then reacting up early Thursday to probe its upper-end may be helping to form a bottom. A couple of consecutive closes above 1223.00 would signal and confirm.

Silver May Contract (SI, ETF: (SLV))
Firming from Wednesday’s test of 15.25 didn’t extend the break under 15.70, which will allow for a recovery to form without probing back under 14.70.

30-year Treasury Jun Contract (US, ETF: (TLT))
Probing intraday above 163-16 was reversed back into negative territory Thursday. Still overlapping it at Wednesday’s close keeps the door open to fresh lows targeting 160-28.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
The 39.50 pullback target was overshot Thursday down to 38.33, but then attack into the closing strength. Having tested “lower prior highs,” a retest of the recent 42.00-42.35 gap up would likely form a durable top.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
There was no clear resolution from greeting Thursday’s EIA report not from a position of weakness, but also not from a position of strength. But there was nevertheless a vulnerability to extending down, and it was not exploited. The session held 1.80 support, so closing back above 1.85 would be likely to resume the rally targeting 1.99.