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))
Probing a fresh high Wednesday night had been retraced before Thursday’s open, which continued to be resisted by 1.1435 to maintain the topping pattern while awaiting a break under the 1.1345 sell signal.

Gold Apr Contract (GC, ETF: (GLD))
Surging overnight from Wednesday’s 1224.50 close retested last week’s overnight attack on “higher prior lows” up to 1245.00. Gapping up is still not a valid start to a durable rally, but this attempt my take multiple days and multiple legs before failing. Meanwhile, a dip to 1234.00 would likely recover to above 1255.00, so long as 1228.50 holds as support.

Silver May Contract (SI, ETF: (SLV))
Testing the 15.25 bounce limit Thursday has threatened the 14.70 minimum pullback objective, which otherwise remains in-play.

30-year Treasury Jun Contract (US, ETF: (TLT))
At least touching 165-00 “lower prior highs” Wednesday did not delay recovering Thursday, already probing Tuesday’s 166-15 prior highs up to at least 167-00. Gapping up from the corrective was an overly-optimistic start to resuming the rally, but a pullback to 165-12 can be avoided by holding 166-10.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Wednesday’s night’s test of 38.25 which had been critical support on the way down should launch the next downleg to the 34.25 and 31.85 targets. Closing above 39.05-39.10 would start to signal that downside momentum had lapsed.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Gapping up Thursday back above 1.95 helped to confirm that Wednesday’s break under it was not strong-handed, and also confirmed that EIA was not being greeted from a position of weakness. Closing above 1.95 and higher would still signal a new upleg underway to probe above 2.08.