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))
Having held 1.2460 support, Monday”s dip didn”t gain traction. Tuesday”s gap up back above 1.2495 resistance produced a fresh breakout which still needs confirmation from a second consecutive higher close Wednesday.

Gold Dec Contract (GC, ETF: (GLD))
Monday”s shallow dip was rejected by gapping up Tuesday to fresh highs. Pullbacks must now hold 1190.70 to maintain the rally targeting 1226.00-1229.00.

Silver Dec Contract (SI, ETF: (SLV))
Gapping down Monday created the attraction above back to Friday”s close, which was also resistance if retested. Tuesday”s gap up filled the gap back to Friday”s close, and held there through the day. The rally shouldn”t hesitate extending higher or else its momentum could reverse down.

30-year Treasury Dec Contract (US, ETF: (TLT))
Tuesday”s gap up confirmed what Monday afternoon”s narrow ranging at support had suggested already, that Monday morning”s sellers gained no traction for their effort. The open didn”t extend higher intraday, but it did hold above 141-12, which still gives the rally potential a benefit of the doubt.

Crude Oil Dec Contract (CL, ETF: (USO))
Briefly firming to a fresh high Monday night was retraced before the open, and rejected through the morning as price dipped back under the 75.40 bounce limit to possibly resume the decline targeting 72.00-72.75.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Tuesday”s opening dip held a test of 4.17 support before recovering to unchanged, and back above 4.25 resistance — which was still being tested through the afternoon. No second consecutive higher close to Monday”s breakout does now require Wednesday to resume the rally, or else undermine its validity.