NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sun Nov 2, 2014 05:51 AM CST

Brent Crude Oil: The spot-month contract closed at $85.86, down $8.81 for the month. The major (long-term) trend remains down with support at $82.30. This price marks the 50% retracement level of the previous uptrend from $36.20 (low from December 2008) through $128.40 (high from March 2012). The 61.8% retracement level is down at $71.42. Monthly stochastics are nearing the oversold level of 20%.

Crude Oil: The spot-month contract closed at $80.54, down $10.62 for the month. The major (long-term) trend remains sideways to down with support pegged at $73.66. This price marks the 50% retracement level of the previous ...

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