NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sat Sep 20, 2014 08:42 AM CDT

Brent Crude Oil: The spot-month contract closed $1.28 higher. The spot-month contract rallied off its test of major (long-term) support at $97.70, a price that marks the 33% retracement level of the previous major uptrend from $36.20 (December 2008 low) through $128.40 (March 2012 high). Weekly stochastics saw a bullish crossover below the oversold level of 20%, indicating a turn to at least a secondary (intermediate-term) sideways trend if not an uptrend. Either way, initial resistance is now pegged at $103.25.

Crude Oil: The spot-month contract closed $0.14 higher. The secondary (intermediate-term) trend remains down, with weekly stochastics just missing ...

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