NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Tue Sep 1, 2015 05:03 AM CDT

Brent Crude Oil: The spot-month contract closed at $52.24, up $0.03 on the monthly chart. The market is giving mixed signals at the end of August. The move to a new low of $42.23 combined with continued neutral-to-bearish monthly stochastics indicating the major (long-term) trend remains down. However the sharp rally at the end of the month, taking the market to a close back above support at $50.96, looks to have established a spike reversal. If so the spot-month contract should continue its rally in September, leading to a bullish crossover by monthly stochastics at the end of the month.

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