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))
Flat-to-higher firming Thursday stopped short of 1.1255 resistance which must hold to maintain the topping pattern that is targeting gaps below at 1.1115 and 1.1000.

Gold Jun Contract (GC, ETF: (GLD))
Totally avoiding 1252.00 Thursday spent the entire session fluctuating around 1256.00, not signaling the current range’s resolution either way.

Silver Jul Contract (SI, ETF: (SLV))
Thursday’s ranging remained with the recent range, above last week’s prior highs, but still neither resuming the rally, nor rejecting it.

30-year Treasury Jun Contract (US, ETF: (TLT))
Flat-to-higher Thursday isn’t optimal for the pattern that otherwise has no bullish excuse to further delay resuming its rally.

Crude Oil Jul Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
The rally’s minimum objective had been met already. Gapping down Thursday to test 50.70 held well above the 50.08 overnight low that was triggered by OPEC news. Bouncing filled the gap back up to Wednesday’s close, neutralizing its attraction, and resolving down to fresh lows at 48.75. Closing under 49.25 and not recovering 49.75 would start to signal the trend reversing back down.

Natural Gas Jul Contract (NG, ETF: (UNG, UNL))
[Rolling coverage forward to Jul, which trades at a 9-cent premium to Jun] Wednesday’s recovery back up to 3.30 was followed by Thursday’s gap up, which immediately began reversing down through to the lowest levels in weeks at 3.24. Fresh lows under 3.20 remain in-play.