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))
Two days of testing natural resistance at the 1.1300 61.8% gap-fill have resolved up to test 1.1340. Back under 1.1295 would still trigger the retest of the 1.1195 gap fill at the low.

Gold Apr Contract (GC, ETF: (GLD))
Wednesday’s was Gold’s day to outperform, up sharply pre-open to fresh recovery highs that were maintained through the day. The rally leg seems entrenched, albeit not necessarily enough to yet allow a corrective day before extending higher.

Silver May Contract (SI, ETF: (SLV))
Gapping up Wednesday ranged entirely in positive territory but was retrained by Tuesday’s highs. A higher close Thursday is needed to confirm that Wednesday’s pattern was not bearish “ineffectual optimism.”

30-year Treasury Jun Contract (US, ETF: (TLT))
Gapping down Wednesday spent the session hovering narrowly at the 146-00 pullback limit to keep alive upside momentum, while requiring the rally to resume without delay to avoid a much deeper retracement.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Already testing Tuesday’s highs early Wednesday, the morning’s EIA report was being greeted from a position of strength. Its reaction probed higher for the first qualified close above the 57.00 buy signal.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
Two days of sitting at the 2.76 sleeper low had held, and finally began recovering Wednesday. But not enough to reverse momentum up above 2.84, so Thursday’s EIA report isn’t being greeted from a position of strength.