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 Sep Contract (EC, ETF: (FXE, UUP))
Initially firming Sunday night to fresh recovery highs at 1.1800 was retraced before Monday’s open to gap down slightly and extend down to 1.1740 support. Momentum did not reverse down, keeping alive the attraction back up to 1.1850 so long as 1.1725 holds as support.

Gold Aug Contract (GC, ETF: (GLD))
Sunday night’s initial strength to test 1235.00 was retraced into Monday’s open as the morning dipped to attack 1222.00. Closing back above 1230.00 would be more reliable for launching an upleg.

Silver Sep Contract (SI, ETF: (SLV))
Trying to probe higher Sunday night was retraced back toward Thursday night’s lows Monday morning, maintaining higher highs and higher lows that keep alive potential for launching a rally leg.

30-year Treasury Sep Contract (US, ETF: (TLT))
Friday’s drop to the 144-08 target held through Sunday night but then gave way to the next lower objective at 143-02 down to 142-28. The bounce limit is now 143-12 to maintain the decline’s momentum.

Crude Oil Sep Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Sunday night’s strength up to 69.30 was on-track to extend Thursday’s recovery above 68.80, despite Friday not having confirmed. But Monday was more in sync with Friday, as intraday action reacted back down into negative territory testing the low pattern’s 67.60 as support. Closing above 68.80 would still be credible for launching at least a corrective bounce targeting 71.70.

Natural Gas Aug Contract (NG, ETF: (UNG, UNL))
Thursday and Friday’s testing 2.78 resistance had threatened to violate the downside momentum, but Sunday night’s gap down and Monday’s testing of 2.71 continue to point lower.