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 Dec Contract (EC, ETF: (FXE))
The 1.2750 lower-end of the narrowing range was tested Tuesday. It hasn”t broken decisively, but breaking either end of the range is likely to be only a false break.

Gold Dec Contract (GC, ETF: (GLD))
Friday morning”s blip-down to only attack 1231.00 was the last chance for sellers to retake control. Having failed, fresh highs up to 1259.00 became likely. It was attacked Tuesday by new highs up to 1255.00, and remains in-play so long as pullbacks now hold 1244.00 as support/.

Silver Dec Contract (SI, ETF: (SLV))
Higher Gold all but forced Silver out of its 17.25-17.40. bunker that had continually attracted price to it for several weeks. But Tuesday”s fresh high only tested the range”s 17.60-17.80 upper-end.

30-year Treasury Dec Contract (US, ETF: (TLT))
Flat-to-lower ranging persisted through the day as recent wide gyrations was still likely to need time to be absorbed. This is now enough time, so the next trending attempt should gain traction and extend.

Crude Oil Dec Contract (CL, ETF: (USO))
A deeper dip intraday still recovered back above the 81.80 pullback limit, which allows the recovery potential to remain alive. Ongoing testing of support can continue indefinitely, but tends to resolve down as support is chipped away.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Monday”s break to fresh lows was retraced Tuesday, retesting 3.71 resistance after fulfilling the 3.65 next lower support.