Daily Spot… Gold gettiing heavy, bonds getting strong.

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))
Wednesday”s fresh high close was not above last week”s intraday high, disqualifying it from fulfilling the outstanding third higher close. Thursday”s open gapped down and extended lower. Back above 1.1285 would signal the rally had resumed.

Gold Jun Contract (GC, ETF: (GLD))
Testing 1185.30 at Wednesday”s close — instead of closing under it — made 1175.00 the new signal that momentum has reversed down. But Thursday”s plunge testing 1175.00 does at least confirm the recent bounce had failed. Closing under it would next target 1158.50.

Silver Jul Contract (SI, ETF: (SLV))
Thursday”s reaction down to a fresh low tried recovering to unchanged, but might not have prevented sellers from gaining traction. Nevertheless, there remains potential for bouncing back into the 16.15-16.35 range.

30-year Treasury Jun Contract (US, ETF: (TLT))
Thursday”s reaction to 8:30”s econ reports surged to test 149-08 resistance. closing above it would signal a bigger rally underway. A pullback needed to hold 148-23 as support, which it did, before recovering to fresh session highs.

Crude Oil Jul Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Wednesday”s surge above 60.80 didn”t resume Thursday morning, instead testing the 60.30 pullback limit which must hold through the close to maintain the rally”s momentum.

Natural Gas Jul Contract (NG, ETF: (UNG, UNL))
Greeting Thursday”s EIA report from a position of strength didn”t equate to resuming the rally, and there was no negative knee-jerk reaction to absorb. But the probe above 2.90 did react back down to test Wednesday”s 2.82 low. Regardless, Wednesday”s third higher close wasn”t rejected, so the trend remains intact.