A daily summary of high-profile members of several complexes.
Gold Feb Contract (GC, ETF: (GLD)): Monday night's test of the $1,147.00-$1,149.00 per ounce bounce limit was retested overnight, gapping up Thursday. The interim consolidation formed lower prior highs at 1142.50, and breaking lower would reinstate the attraction down to 1118.00. Meanwhile, fresh highs have extended to test 1160.50, and can extend to 1167.00 unless a reaction down were to close under 1147.00.
Silver Mar Contract (SI, ETF: (SLV)): Overnight strength attacked the 16.20 buy signal which was then probed intraday, suggesting that no "unfinished business below" remains outstanding.
30-year Treasury Mar Contract (US, ETF: (TLT)): Thursday's open immediately exceeded Wednesday's bounce to the 149-24 buy signal. Eventually probing above it intraday to 150-12 was reversed back down to 149-24, undermining a close above it. Nevertheless, a second consecutive higher close would target 151-12.
Eurodollar Mar Contract (EC, ETF: (FXE, UUP)): Wednesday's drop neutralized the outstanding attraction below, and held its test to avoid putting lower targets into play. Already gapping up Thursday risks leaving another gap outstanding below, but that didn't prevent trending back up to attack the 1.0540 prior highs intraday. A second consecutive higher close Friday would confirm a bottom is in.
Crude oil Feb Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short)): Wednesday's post-close reaction to API and Thursday morning's reaction to EIA maintained enough pressure to inhibit the rally from resuming, but not enough to reverse the trend down. Reversing down is unlikely before at leas retesting the three-week old Sundaynight gap up.
Natural gas Feb Contract (NG, ETF: (UNG, UNL)): Was Wednesday's surge above 3.75 to 3.90 the result of rolling the front-month from Jan to Feb? Gapping down Thursday is consistent with that possibility, as was trending back down to 3.75. But closing under 3.62 is the deciding factor, and its break should then trend down sharply.