NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sun Mar 1, 2015 07:04 AM CST

Brent Crude Oil: The spot-month contract closed at $62.58, up $9.59 on the monthly chart. As discussed at the end of January, the major (long-term) trend turned up in February. The spot-month contract closed near its monthly high, establishing a bullish crossover by stochastics well below the oversold level of 20%. Initial resistance could be seen at $74.44, the 23.6% retracement level of the previous downtrend from $128.40 through January's low of $45.19. The 38.2% retracement level is up at $84.75.

Crude Oil: The spot-month contract closed at $49.76, up $1.52 on the monthly chart. While the market did see ...

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