NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sat Aug 16, 2014 09:45 AM CDT

Brent Crude Oil: The spot-month contract closed $1.49 lower. The secondary (intermediate-term) trend is down. However, after falling to a new low of $101.92 the spot-month contract rallied to close at $103.53, near technical price support of $103.61. This price marks the 67% retracement level of the previous uptrend from $96.75 through the high of $117.34. Weekly stochastics are below the oversold level of 20%, meaning a bullish crossover could be seen in the near future.

Crude Oil: The spot-month contract closed $0.30 lower. The secondary (intermediate-term) trend remains down. Similar to Brent crude though, the spot-month contract rallied off ...

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