Gold Apr Contract ( jUN , ETF: (GLD))
Bouncing overnight held a test of $1325.50 per ounce resistance. Its complete retracement greeted Tuesday’s CPI unchanged. A wide $14 knee-jerk reaction ultimately resolved up to test and retest 1325.50 by several dollars. There’s still room up to 1335.00 before signaling a bigger rally underway, but that becomes only a formality if another downleg isn’t underway already Wednesday.
Eurodollar Mar Contract (EC, ETF: (FXE, UUP))
Monday’s recovery back up to the 1.2345 sell signal extended higher Tuesday, back up to the “higher prior lows” of the Tue-Wed range that had launched Thursday’s plunge. Back under 1.2330 would resume the decline.
Silver May Contract (SI, ETF: (SLV))
An overnight bounce had retraced to unchanged ahead of Tuesday’s CPI, which triggered a spike up to $16.70 per ounce. Which is still in the 16.50-16.75 range that avoids triggering a signal.
30-year Treasury Jun Contract (US, ETF: (TLT))
Tuesday’s 30-year auction was greeted by fresh highs testing 144-05 resistance up to 144-15. Reacting down a couple more times each recovered to the downtrending resistance. But closing beyond either would be likely to extend in that direction. Closing above 144-05 would be credible for extending higher, but back under 143-16 would signal a new downleg underway.
Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Bouncing back up to the $61.35 per barrel bounce limit Monday didn’t recover it, so Tuesday’s break back down to Monday’s lows helps to confirm the downtrend has resumed.
Natural Gas May Contract (NG, ETF: (UNG, UNL))
Probing slightly higher highs overnight were retraced back to and/or under the 2.81 “lower prior highs” Tuesday, which keeps alive potential for a corrective dip