NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sat Apr 18, 2015 11:09 AM CDT

Brent Crude Oil: The spot-month contract closed $5.58 higher at $63.45. The secondary (intermediate-term) trend is up with the spot-month contract trading above initial resistance at $62.22. This price marks the 23.6% retracement level of the previous secondary downtrend from $117.34 through the low of $45.19. Weekly stochastics remain bullish meaning the market could ultimately test the 38.2% retracement level of $72.75.

Crude Oil: The spot-month contract closed $4.10 higher at $55.74. The secondary (intermediate-term) trend has turned up with the move by the spot-month contract above resistance at $54.24. Weekly stochastics are bullish, indicating the spot-month contract could soon ...

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