Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sun Nov 30, 2014 02:48 PM CST

Brent Crude Oil: The spot-month contract closed at $69.73, down $15.71 for the month. The major (long-term) trend remains down with support between $71.42 and 66.90. These prices mark the 61.8% and 67% retracement levels of the previous uptrend from $36.20 (low from December 2008) through $128.40 (high from March 2012). Monthly stochastics are below the oversold level of 20% indicating the market could begin to stabilize.

Crude Oil: The spot-month contract closed at $66.15, down $14.39 for the month. The major (long-term) trend is down with the spot-month contract testing support at $63.94. This price marks the 61.8% retracement ...

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