Daily Spot… Nasty Gas.

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 Sep Contract (EC, ETF: (FXE, UUP))
Gapping up slightly and firming Monday was contained within the 1.1100 bounce limit which keeps alive the downward momentum, and the confirmed break that is now seeking at least a third lower close.

Gold Dec Contract (GC, ETF: (GLD))
Gapping up slightly Monday was just enough to range narrowly around the 1165.50 pullback limit that had held until Friday morning. Closing above 1170.00 would now target 1180.00, and then fresh highs.

Silver Dec Contract (SI, ETF: (SLV))
Closing around 15.85 Friday had suggested that sellers didn’t gain any traction. Gapping up slightly Monday didn’t extend higher, but its tempered optimism keeps alive potential for resuming the rally.

30-year Treasury Dec Contract (US, ETF: (TLT))
Gapping up Monday above Friday’s range didn’t invalidate its break, and left outstanding the gap back to Friday’s close which can attract price down to resume the decline.

Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Overnight weakness kept the pattern under pressure as lower targets remain outstanding, but a confirmed breakout close is still lacking.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Trending down Sunday night from Friday’s 2.27 close extended down Sunday night and intraday Monday to 2.05. Closing above 2’08 would suggest the decline was bottoming. But no recovery is signaled until also recovering above 2.16.