NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sat Jun 27, 2015 07:14 AM CDT

Brent Crude Oil: The spot-month contract closed $0.24 higher at $63.26. The secondary (intermediate-term) trend is sideways-to-down with support at $61.49. This price marks the 33% retracement level of the previous uptrend from $45.19 through the high of $69.22. Weekly stochastics remain bearish indicating the spot-month contract could move to a test of the 50% retracement level of $57.41.

Crude Oil: The spot-month contract closed $0.02 higher at $59.63. The secondary (intermediate-term) trend remains sideways with the spot-month contract holding below resistance between $58.60 and $65.41. These prices mark the 23.6% and 33% retracement levels of the previous secondary downtrend ...

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