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 Jun Contract (EC, ETF: (FXE, UUP))
Friday immediately exploited Thursday’s close above 1.1355 by gapping up to prior resistance at 1.1415 and trending up from there to probe prior highs up to 1.1475. Back under 1.1415 at any time would trigger a new downleg targeting fresh lows.

Gold Jun Contract (GC, ETF: (GLD))
Trending higher overnight extended Thursday’s rally to sharply higher highs, probing 1286.00 resistance whose recovery through the close would target 1312.00.

Silver Jul Contract (SI, ETF: (SLV))
Gapping up Friday and trending higher intraday reinstates the rally’s momentum that is ultimately targeting 18.80. Having formed an Island, gapping down Monday back under 17.55 would create a detour back down first.

30-year Treasury Jun Contract (US, ETF: (TLT))
Gapping down Friday was recovered into positive territory after Thursday had confirmed Wednesday’s breakout. Although at least an eventual higher close is now required — and an upleg triggered above 163-00 would target 165-00 — a detour can still fill the gap back down to 161-04 if not also briefly probe a fresh low under 161-.

Crude Oil Jun Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Initially firming to test 46.75 was reversed intraday into negative territory, leaving outstanding at least one more eventual higher close before a reversal down would be credible from any higher than 43.10.

Natural Gas Jun Contract (NG, ETF: (UNG, UNL))
The overnight blip-down was retraced enough to open flat Friday, in a four-day setup that was unlikely to close lower. In fact, the session surged to attack 2.22 within a few cents, whose recovery would trigger a new upleg.