Daily Spot… Gold’s sell signal already fulfilled?

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 Mar Contract (EC, ETF: (FXE, UUP))
Thursday morning”s setup targeting a probe above 1.0900 was fulfilled already overnight. Its reaction down Friday morning was recovered to at least hover around 1.0855.

Gold Jun Contract (GC, ETF: (GLD))
Thursday”s bounce held the 1194.50 sell signal”s 1197.50 bounce limit. Despite not immediately confirming Wednesday”s sell signal, Friday compensated for the delay by dropping more than $20 to the 1170.00-1174.00 target area”s upper-end.

Silver May Contract (SI, ETF: (SLV))
Fresh lows Friday down to 15.55 keep the decline”s momentum intact so long as bounces now hold 15.85-15.90.

30-year Treasury Jun Contract (US, ETF: (TLT))
Thursday”s open and close both tested the 162-00 bounce limit, which extended higher Friday to probe 163-00. Room up to 163-18 remains alive so long as 162-00 now holds as support, and its break would resume the decline.

Crude Oil Jun Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Thursday”s bounce was undermined Friday by dipping back down to 56.68 pullback limit instead of extending higher to probe above 57.70 for a second consecutive session.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Firming Friday would have helped to confirm that Thursday”s gap down didn”t damage the potential bottoming pattern. But the session ranged flat-to-lower into the weekend. Closing above 2.57 would still signal the drop had ended, and closing above 2.60 would launch an upleg targeting the 2.80 area.