NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sat Nov 22, 2014 08:01 AM CST

Brent Crude Oil: The spot-month contract closed $0.95 higher at $80.36. Though hard to get a read on weekly signals, the secondary (intermediate-term) trend may have turned sideways last week. The spot-month contract stayed within the previous week's range while weekly stochastics remain below the oversold level of 20%. However the major (long-term) trend is down with support at $71.42, a price that marks the 61.8% retracement level of the previous uptrend from $36.20 through the high of $128.40.

Crude Oil: The spot-month contract closed $0.69 higher at $76.51. As with Brent crude, patterns on the weekly WTI chart are ...

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