Daily Spot

A daily summary of high-profile members of several complexes…[pay] View a more detailed discussion of each at the end of today’s Market Wrap.

Today’s Highlight Has Crude Oil completed its correction from the pre-war surge?

Dollar Basket Sep Contract (DX, ETF: (UUP, UDN))
Extending to fresh highs Friday confirmed Thursday’s breakout, putting into play 83.10 so long as 81.85 holds as support.

Eurodollar Sep Contract (EC, ETF: (FXE))
Extending sharply lower Friday confirmed Thursday’s breakout, putting into play 1.304 so long as 1.3265 holds as resistance.

Gold Oct Contract (GC, ETF: (GLD))
Despite 1405.50 having held its test as support Thursday, lower lows overnight and Friday morning tested 1491.50. A reaction up held 1405.50 as resistance, needing to recover it for another probe above 1420.00 to be in-play.

Silver Dec Contract (SI, ETF: (SLV))
Wednesday’s key reversal had fulfilled its minimum objectives Thursday, but extended down further Friday. Closing back above 24.10 would signal the pullback was resolving up to probe back above 25.00.

30-year Treasury Sep Contract (US, ETF: (TLT))
Friday’s ranging held a retest of Thursday’s highs. But not yet resuming the decline does keep the door open to extending the interim bounce. Closing back under 132-10 and 131-30 would still resume the decline.

Crude Oil Oct Contract (CL, ETF: (USO))
The pullback extended lower Thursday night to 106.75, which was attacked Friday morning. A probe above 110.65 would be in-play back above 108.75.

Natural Gas Oct Contract (NG, ETF: (UNG, UNL))
Thursday’s recovery did not extend higher Friday. Neither was it rejected, so any early strength above 3.64 Monday would still be credible for extending higher through the day.

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