NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sun Aug 31, 2014 10:41 AM CDT

Brent Crude Oil: The spot-month contract closed $0.90 higher. The secondary (intermediate-term) trend appears to have turned sideways. Support is at the recent low of $101.07 while weekly stochastics are nearing a bullish crossover below the oversold level of 20%. Commercial buying has been indicated recently by the weakening contango in the nearby futures spread with last Friday's close showing 58 cents, compared to the previous week's settlement of 75 cents.

Crude Oil: The spot-month contract closed $2.31 higher. The secondary (intermediate-term) trend looks to have turned up following a bullish crossover by weekly stochastics below the oversold level of ...

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