NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sun Feb 7, 2016 11:22 AM CST

Brent Crude Oil: The spot-month contract closed $0.68 lower at $34.06. Despite the lower close the secondary (intermediate-term) trend remains up. Initial resistance is pegged at $37.14, a price that marks the 23.6% retracement level of the previous downtrend from the high of $69.63 through the low of $27.10. Weekly stochastics remain bullish following a crossover below the oversold level of 20% the week of January 17.

Crude Oil: The spot-month contract closed $2.73 lower at $30.89. Despite the lower close the secondary (intermediate-term) trend remains up. Initial resistance is pegged at $34.78, a price that marks the 23.6% retracement ...

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