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))
Dipping Thursday under the prior two sessions avoided touching “lower prior highs.” But the potential Island pattern is not an optimal formation. Almost any strength would be likely to extend up to 1.0900.

Gold Apr Contract (GC, ETF: (GLD))
Initially probing a fresh high above 1253.00 at Thursday’s open soon had reversed down under Wednesday’s range to test 1243.00 as support. The week’s previously confirmed breakout still requires at least one more eventual higher close.

Silver May Contract (SI, ETF: (SLV))
Thursday’s opening surge held 17.70 before reversing back down to unchanged at 17.57, briefly probing a nickel deeper. Closing flat-to-higher keeps alive potential to 17.90.

30-year Treasury Jun Contract (US, ETF: (TLT))
Flat-to-lower ranging Thursday tested the 150-04 pullback limit, which held like the last two pullback limit tests. Those prior tests also launched uplegs to the next higher objective, which is 152-00 so long as 150-04 holds as support.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Thursday’s relatively narrow ranging fluctuated around the 47.75 lower-end of last week’s Island. The restrained optimism maintains the potential for forming a substantial bottom. But it will need to begin recovering Friday, or else trending down into the weekend could more likely resume the decline.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
The knee-jerk reaction to Thursday’s EIA report momentarily touched the 2.99 sell signal and snapped back up into the range. The news wasn’t greeted from a position of strength or of weakness, but the next break either way is now likely to extend in that direction.