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))
Four sessions spent ranging around 1.2320 had already missed the earlier opportunity to reject the drop that began the ranging. Tuesday’s break lower to the two-week old 1.2235 prior low, which has no bullish reason to be retested.

Gold Apr Contract (GC, ETF: (GLD))
Rejecting Sunday night’s surge before Monday’s open, and then stopping optimistically short of filling the gap back down to Friday’s close, had made fresh lows likely. Tuesday morning’s reaction to the new Fed chair’s testimony triggered a break under last week’s 1325.00 low, attacking the two-week old prior lows at 1313.50.

Silver Mar Contract (SI, ETF: (SLV))
Breaking under 16.40 Tuesday puts into play a retest of the prior low at 16.15 and its gap outstanding there. Meanwhile, an intraday bounce can test 16.45 without reversing momentum up so long as the close is back under 16.40.

30-year Treasury Mar Contract (US, ETF: (TLT))
Gapping down Tuesday under 143-30 only briefly blipped-down before bouncing 1 point to retest the 144-12 bounce limit as resistance. Its reaction down to fresh lows filled the gap back down to Thursday’s 143-06 close. Still outstanding is the gap back down to Wednesday’s 142-20 close.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Having fulfilled its minimum requirement for at least one more higher close on Monday, Tuesday’s dip under the 63.45 pullback limit. There’s still room down to 62.25 before triggering a reversal down that takes off the table a higher high up to 57.05.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
[Rolling coverage forward to May, which trades at a 1-cent discount to Mar]… Still hovering under 2.69 keeps alive the likelihood of at least momentarily probing a fresh low under 2.54 before a recovery effort would be credible.