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))
Spiking up after Wednesday’s close in reaction to unfavorable Dollar comments was unable to trend up Thursday, and only ranged around Tuesday’s prior highs. The decline remains vulnerable to resuming, targeting 1.0550.

Gold Jun Contract (GC, ETF: (GLD))
Sharply higher highs overnight came within $4 of the 1294.00 target, needing pullbacks to hold 1287.00 to maintain the upside momentum.

Silver May Contract (SI, ETF: (SLV))
Wednesday night’s rally fulfilled the minimum objective above 18.30 to probe the 18.55 prior high. Higher highs are likely so long as 18.30 holds as support.

30-year Treasury Jun Contract (US, ETF: (TLT))
Tuesday and Wednesday’s refusal to react down from retesting the rally’s target had made fresh highs likely. Surging more than 1 point overnight to 154-10 and gapped up Thursday to entirely above all prior highs. Gapping down under prior highs could form an Island reversal that probes lower temporarily, but Thursday’s high would require retest at some point.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Flat-to-lower ranging since fulfilling the rally’s 53.55 target may be supported artificially by other commodities rallying. Regardless, back under 52.70 would target 50.65.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Thursday’s bounce filled the gap back up to Monday’s 3.23 close, and could extend to 3.27 before reversing down, which would be triggered anyway under 3.13.