Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Wed Jul 1, 2015 04:42 AM CDT

Brent Crude Oil: The spot-month contract closed at $63.50, down $2.07 on the monthly chart. While the major (long-term) trend remains up, a secondary (intermediate-term) downtrend could take the spot-month contract back to a test of support at $57.41. This price marks the 50% retracement level of the initial rally from the January 2015 low of $45.19 through the April 2015 high of $69.63.

Crude Oil: The spot-month contract closed at $59.34, down $0.96 on the monthly chart. The major (long-term) trend remains up with the spot-month contract testing resistance between $59.21 and $66.27. These prices mark the 23.6% and ...

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