A daily summary of high-profile members of several complexes.
Gold Aug Contract (GC, ETF: (GLD))
Fresh lows into Monday's open not only extended the decline, but also resumed it from the two-day consolidation of having gapped down sharply Thursday. Only closing back above 1259.25 would prevent this leg from extending next to 1235.00
Eurodollar Jun Contract (EC, ETF: (FXE, UUP))
Gapping up Monday touched 1.1255 resistance and reversed back down to unchanged, duplicating the distribution from the test of "higher prior lows" that already had contained Friday's bounce. There's no requirement to resume the decline, but the only reason to further delay it now would be to avoid it altogether.
Silver Jul Contract (SI, ETF: (SLV))
Monday's break lower from having consolidated into the weekend all but confirms the current decline is targeting a test of 16.30 before a bottom can be credible.
30-year Treasury Sep Contract (US, ETF: (TLT))
Friday's 61.8% retracement back up to Wednesday afternoon's high was pierced by only 1 tick overnight, keeping alive the vulnerability to launching a new reaction down under 155-00 targeting 153-29, and potentially also its breaks as a larger top form.
Crude Oil Jul Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Gapping up slightly Monday was reversed only slightly, but that was enough to pierce Thursday's prior low down to 44.34. Closing back above 45.29 and 45.80 would reverse the trend up.
Natural Gas Jul Contract (NG, ETF: (UNG, UNL))
Thursday's knee-jerk reaction to EIA had been maintained Friday, delaying its likely retracement back to last week's 2.92 lows. The delay was compensated by gapping down Sunday night and extending to probe new lows on Monday's open down to 2.88. Any recovery requires closing back above 2.95.