NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sat Mar 21, 2015 01:08 PM CDT

Brent Crude Oil: The spot-month contract closed $0.65 higher at $55.32. The secondary (intermediate-term) trend remains up with the spot-month closing above technical support at $54.09. This price marks the 50% retracement level of the initial rally from $45.19 through the high of $63.00. Weekly stochastics remains bullish indicating a retest of resistance at $62.22 is possible.

Crude Oil: The spot-month contract closed $0.88 higher at $45.72. Last week's move to a new low of $42.03 would indicate the market remains in a secondary (intermediate-term) downtrend. However, the spot-month contract was able to rally to a higher close, hinting at ...

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