Daily Spot

A weekly summary of high-profile members of several complexes.[pay]

Dollar Basket Jun (DXM) Still unwinding the optimism. Wednesday’s open gapped under Tuesday’s lows, which was also under the prior week’s lows, to the lowest levels in nearly three weeks. Just avoiding a close above 75.30 would maintain the decline’s momentum targeting 74.15.

Gold Aug (GCQ) Warning shot across the bow. Tuesday’s post-close dive was maintained overnight, but not much into Wednesday’s session, which retraced back up to 1602.00. The bounce now allows a close under 1592.50 to signal a new downleg underway. Alternatively, a fresh high above 1611.00 that closes negative Wednesday would seal a top.

30-year Treasury Sep (USU) Defensive posturing ahead of big calendar. Tuesday’s post-close probe above 127’00 wasn’t repeated Wednesday. But the session low held a test of 125’28, and the rally didn’t lose any traction, so 127’24 remains in-play.

Crude Oil Sep (CLU) Can another downleg even be attempted? The probe above 97.35 resistance was extended through Wednesday, without any accumulation. Closing under 97.35 would still signal a new downleg underway.

Natural Gas Sep (NGU) False start. An optimistic start Wednesday was reversed into negative territory. The open’s gap up was not a new high, so it doesn’t require being filled. But the intraday low did hold a test of 4.40 to maintain the rally’s momentum. But it has gotten very late to suddenly appear.

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