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))
Thursday’s gap down rejected Wednesday’s gap up to the range’s upper-end, and suggests that momentum isn’t reversing up. A break under the 4-day range should be imminent.

Gold Jun Contract (GC, ETF: (GLD))
Gapping down Thursday under 1271.50 and probing lower didn’t prevent a retest of Wednesday’s high. The 1282.70 bounce limit held again, and attacking it was reversed to attack the open’s low, while still ranging around 1271.50. The 1241.00 target remains intact.

Silver Jul Contract (SI, ETF: (SLV))
Immediately probing under 17.30 Thursday extended down to test natural support at 17.05, keeping alive the drop to fresh lows still targeting at least 16.75.

30-year Treasury Jun Contract (US, ETF: (TLT))
Gapping down Thursday and extending lower held a test of the 165-00 pullback limit. Also creating unfinished business above back to Wednesday’s close should help to attract price higher and resume the rally targeting 166-30 and 167-26.

Crude Oil Jun Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping up Thursday to 46.60 and extending to 47.00 pierced prior highs, but reversed back into negative territory by noon. The reversal didn’t extend, and was retraced to retest 46.60, essentially fulfilling the outstanding third higher close outstanding requirement.

Natural Gas Jun Contract (NG, ETF: (UNG, UNL))
Greeting Thursday’s EIA report from a position of strength didn’t prevent a knee-jerk reaction down. But holding 2.14 and closing above 2.18 is the minimal bullish template.