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 Jun Contract (EC, ETF: (FXE, UUP))
Tuesday’s 1.1255 fresh low had held its probe under prior lows, which overnight firming exploited in reaction to China trade headlines. Reacting up to the 1.1322 prior highs helps to form a bottoming pattern, and doesn’t yet qualify as a bottom, which requires closing above 1.1344.

Gold Jun Contract (GC, ETF: (GLD))
Still hovering at recent lows keeps intact the 1302.00 buy signal, but also keeps the pattern meanwhile vulnerable to extending down.

Silver May Contract (SI, ETF: (SLV))
Filling Thursday’s gap at Tuesday’s open was recovered overnight to test the 15.15 buy signal, which was tested intraday Wednesday, too, and continues to hold. Having tested it so thoroughly, any reaction down should be shallow and short-lived to avoid resuming the decline.

30-year Treasury Jun Contract (US, ETF: (TLT))
Not holding the 149-11 pullback limit had created potential down to 147-17/147-25, which was met overnight and continued being tested throughout Wednesday. Closing above 148-02 Thursday avoid greeting Friday’s Employment Report from a position of weakness. Closing above 148-16 would greet the report from a position of strength.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Fresh highs attacking 63.00 overnight already were greeting Wednesday’s EIA report from a position of strength. But that didn’t prevent a negative reaction down, which spent the session testing its 62.00 pullback limit.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
The gap back down to Friday’s 2.66 close was filled Wednesday and held, to avoid greeting Thursday’s EIA report from a position of weakness. But also not from a position of strength, which had required closing above 2.72.