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 Mar Contract (EC, ETF: (FXE, UUP))
Tuesday’s gap down had held intraday, but it extended lower overnight to gap down Tuesday and test 1.2320 support. Reaction to the afternoon’s FOMC Minutes surged back up to Tuesday’s highs, still needing to recover 1.2395 to reverse the trend back up.

Gold Apr Contract (GC, ETF: (GLD))
Not holding 1335.00 Tuesday still requires a close back above 1341.00 to launch a recovery leg. Extending the pullback otherwise has no lower objective in-play. Retesting Tuesday’s 1330.00 low held intraday, and reacted up on FOMC Minutes to test 1338.00.

Silver Mar Contract (SI, ETF: (SLV))
Holding 16.40 Tuesday and only testing it overnight allowed Wednesday to hold the pullback limit. But closing any lower would target fresh lows. The intaday bounce back up above 16.60 reacted up sharply on FOMC Minutes and filled the gap back up to Friday’s ~16.75 close.

30-year Treasury Mar Contract (US, ETF: (TLT))
Flat-to-lower into and out Wednesday’s open greeted the afternoon’s FOMC Minutes at the trading range’s 143-14 lower-end, which was still being tested after the event, having no bullish excuse to further delay recovering the 144-12 buy signal.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
The 61.35 bounce limit still being probed at Tuesday’s close was tested as support overnight. The delay in rejecting its recovery makes its actual rejection likely to done aggressively, and any shallower weakness would be more vulnerable to recovery.

Natural Gas Mar Contract (NG, ETF: (UNG, UNL))
Tuesday’s gap up to test the 2.65 prior high had held, still being likely to probe fresh lows before any credible recovery could begin.