MARKETS NEWS
Darin Newsom DTN Senior Analyst
Sat Jul 26, 2014 08:12 AM CDT

Energy Markets: Weekly Analysis

Brent Crude Oil: The spot-month contract closed $1.15 higher. Despite Friday's strong rally the secondary (intermediate-term) trend remains sideways to down. The spot-month is set to test resistance between $108.15 and $110.05, the 33% and 50% retracement levels of the previous sell-off from $115.71 through the recent low of $104.39. Weekly stochastics remain neutral to bearish.

Crude Oil: The spot-month contract closed $1.04 lower. The secondary (intermediate-term) trend on the weekly chart is sideways. Support remains at $101.43 and $99.48, prices that mark the 38.2% and 50% retracement levels of the rally from $91.244 through the ...

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