Gold bounce testing highest levels of this range

A daily summary of high-profile members of several complexes.


Crude oil Jun Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short)): Sharply higher highs Sunday night probed the rally's $48.85 per barrel target, up to 49.66, ranging Monday around 49.30 resistance. That had been confirmation to the prior rally leg, so recovering it again would be challenging while a gap remains outstanding at the low.

Natural gas Jun Contract (NG, ETF: (UNG, UNL)): Sunday night's gap down from the rally's 3.42-3.45 target area responded appropriately to the area's vulnerability. Monday didn't extend the gap down, but neither was it recovered. A second consecutive lower close Tuesday is needed to confirm fresh lows under 3.11 are in-play.

Eurodollar Jun Contract (EC, ETF: (FXE, UUP)): Friday's trigger of the 1.0920 buy signal was extended higher overnight and through Monday morning, already attacking its minimum objective to fill the gap back up to 1.1010. A second consecutive higher close would also require an eventual third, making the original 1.1025 target's retest likely, too.

Gold Jun Contract (GC, ETF: (GLD)): Firming further overnight to the bounce's highest levels tested the $1,228.00 per ounce to $1,236.00 per ounce range upper-end. The balance of the session drifted back down to its lower-end. Closing lower Tuesday would suggest the 1206.00-1211.00 target is in-play.

Silver Jul Contract (SI, ETF: (SLV)): Sunday night extended the rally considerably, probing slightly higher Monday morning to test the original 16.75 sell signal that had put into play 15.95 which remains outstanding below 16.40.

30-year Treasury Jun Contract (US, ETF: (TLT)): Overnight choppiness remains in proximity to trigger the 151-22 inflection point, preferably also recovering 152-00 to help confirm a bigger bounce underway.