NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Fri May 1, 2015 05:57 AM CDT

Brent Crude Oil: The spot-month contract closed at $66.78, up $11.67 on the monthly chart. The major (long-term) trend is now up following a bullish crossover below the oversold level of 20% by monthly stochastics. The spot-month contract closed above initial resistance at $64.82, a price that marks the 23.6% retracement level of the previous downtrend from $128.40 (high from March 2012) through $45.19 (low from January 2015). Next resistance is pegged at the 38.2% retracement level of $76.97.

Crude Oil: The spot-month contract closed at $59.63, up $12.03 on the monthly chart. The major (long-term) trend turned up with ...

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