Daily Spot… Gold goes gonzo.

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))
Surging Wednesday morning was already anticipated to be the only credible path higher, the objective being to retest the last rally leg”s 1.1380 target. It was tested at session highs, and a fresh high Thursday above 1.1400 would be vulnerable to reversing back down intraday.

Gold Jun Contract (GC, ETF: (GLD))
Despite Tuesday”s bounce holding 1194.50 resistance, An overnight rally surged through 1201.50 to begin signaling a bigger rally leg underway targeting 1232.00, and already testing 1218.00. A second consecutive higher close would confirm, but only closing back under 1208.50 would undermine the upward momentum. Closing under 1197.00 would signal new lows in the 1160”s in-play instead.

Silver Jul Contract (SI, ETF: (SLV))
Surging Wednesday through the 16.50-16.65 resistance range extended sharply higher intraday to attack 17.25, with potential to 18.05.

30-year Treasury Jun Contract (US, ETF: (TLT))
Rallying through Wednesday”s open exceeded the 154-16 likely bounce limit up to 155-04. But an intraday reaction down and extended to 152-11. The shock-to-the system that needed to be absorbed now has another shock needing absorption. A narrow intraday range is likely.

Crude Oil Jun Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Tuesday”s bounce had signaled the pullback limit”s test held, which Wednesday”s extension higher tried to confirm. But retesting the original rally”s 62.75 target was reversed back into negative territory. Its recovery Thursday would target 70.00.

Natural Gas Jun Contract (NG, ETF: (UNG, UNL))
Tuesday”s extension was confirmed by Wednesday”s higher close. At least an eventual third higher close is now required.