NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sat Oct 18, 2014 10:14 AM CDT

Brent Crude Oil: The spot-month contract closed $4.05 lower. The secondary (intermediate-term) trend remains down after the spot-month contract posted a new low of $82.60 last week. However, the spot-month was able to rally off this low to close at $86.16. Major (long-term) support remains at $82.30, the 50% retracement level of the uptrend from $36.20 through the high of $128.40.

Crude Oil: The spot-month contract closed $3.97 lower. Last week saw the spot-month contract post a new low of $79.78, extending the secondary (intermediate-term) downtrend. Next major (long-term) level of support is $76.33. Monthly stochastics remain bearish.

Distillates: The ...

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