NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sat May 16, 2015 06:58 AM CDT

Brent Crude Oil: The spot-month contract closed $1.42 higher at $66.81. Last week saw the spot-month contract consolidate within the previous week's trading range while weekly stochastics continue to show a bearish crossover. Resistance remains at $69.22, a price that marks the 33% retracement level of the previous downtrend from $117.34 through the low of $45.19. Next resistance is the 38.2% retracement level of $69.22.

Crude Oil: The spot-month contract closed $0.30 higher at $59.69. The secondary (intermediate-term) trend remains up, though weekly stochastics are above the overbought level of 80% and nearing a bearish crossover. The spot-month contract held ...

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