Daily Spot

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

Dollar Basket Dec (DXZ) Once more. The corrective dip that began Wednesday extended down, gapping up in the interim at Thursday’s open. Had the gap up first tested 80.05 before reversing down, then Thursday’s sellers might be strong sponsorship. It did not, so they probably aren’t. Closing back above 79.65 would resume the rally, so long as the dip does not close back under 78.90.

Gold Dec (GCZ) Stuck. The bounce’s 1653.60 target was met overnight Thursday. It was retested in the afternoon following an intraday dip back down to 1636.50 support. None of which is bearish, but a close above the morning’s high would have signaled the trend was likely to extend higher. It is otherwise lacking a signal currently.

Silver Dec (SIZ) Lift-off. Thursday’s gap up extended higher throughout the day, reflecting accumulation that is targeting 33.15 and 35.50 so long as 30.90 now holds as support.

30-year Treasury Dec (USZ) Ducking the news. Wednesday’s decline extended into Thursday’s close at 142’14. Closing under 143’06 put into play a retest of 141’25, with Friday’s Employment Situation report just ahead. Closing below the target would seal a top.

Crude Oil Nov (CLX) Getting silly. The corrective rally extended through its 81.05-81.10 target to attack the next higher target at 83.15-83.20. A reaction down from its test intraday could close under 80.25. Closing any higher would undermine the rally as being only a correction.

Natural Gas Nov (NGX) Detour up? Thursday’s new trend low intraday was recovered to close positive. CME lowered margins after the close. It had no effect on price action, but recovering 3.62 would target 3.77 and possibly 3.84 before resuming the decline.

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