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))
Holding the 1.1485 sell signal’s test Wednesday could have been exploited by retesting the 1.1600 target, but Thursday’s open gapped down and extended under 1.1415 support.

Gold Jun Contract (GC, ETF: (GLD))
Closing back above 1282.70 Wednesday would have signaled momentum reversing up, but Thursday’s gap up above it still needed to extend higher through the close. Instead, it was retraced to probe under Wednesday’s low attacking 1270.00. Not immediately recovering 1282.70 could extend down to 1260.00.

Silver Jul Contract (SI, ETF: (SLV))
Gapping back up above the 17.50 pullback limit Thursday was not maintained after having failed to hold it Wednesday. It was reversed deeply enough only to fill the gap back to Wednesday’s close, which held, undermining the attempt to extend down.

30-year Treasury Jun Contract (US, ETF: (TLT))
Wednesday’s choppy ranging had avoided rejecting Tuesday’s gap up and post-open surge, essentially reconfirming the 165-06 target remained in-play. Thursday resumed the rally and fulfilled the target. The recovery could extend, so long as 164-28 holds as support instead of its break signaling momentum reversing down.

Crude Oil Jun Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping up Thursday well above the 44.50-44.75 resistance that had held Wednesday would have been credible for extending higher and fulfilling the outstanding requirement for at least one more higher close. But post-open action slid back down to 44.00, filling the gap back to Wednesday’s late surge.

Natural Gas Jun Contract (NG, ETF: (UNG, UNL))
Gapping up Thursday only made even likelier a knee-jerk reaction down after the morning’s EIA report So far, only the gap back down to Tuesday’s close has been retraced, but at least a test of 2.03 remains likely.