NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sat Sep 13, 2014 08:03 AM CDT

Brent Crude Oil: The spot-month contract closed $3.71 lower. The secondary (intermediate-term) remains down. The spot-month contract moved below the market's previous low of $96.75 (week of April 15, 2013) on continued pressure from commercial traders. The contango in the nearby futures spread strengthened to 85 cents on Friday's close. Weekly stochastics remain in single digits indicating a sharply oversold situation. Major (long-term) support is between $97.70 and $93.18 on the market's monthly chart.

Crude Oil: The spot-month contract closed $1.02 lower. The secondary (intermediate-term) trend is down after the spot-month contract moved below, and closed below, its previous low ...

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