Technically Speaking

Brent Crude Oil: The spot-month contract closed $0.70 lower. The secondary (intermediate-term) trend remains sideways. With weekly stochastics neutral, the spot-month contract continues to consolidate between resistance at $111.85 and support at $104.62.

Crude Oil: The spot-month contract closed $0.23 higher. The secondary (intermediate-term) trend on the weekly chart remains sideways to down. The spot-month contract is testing support between $99.88 and $98.23, prices that mark the 38.2% and 50% retracement levels of the previous uptrend from $91.24 through the high of $105.22.

Distillates: The spot-month contract closed 1.55cts lower. The secondary (intermediate-term) trend remains sideways. Weekly stochastics have moved back below the oversold level of 20% while the spot-month contract consolidates between resistance at the four-week high of $3.0216 and support at the previous low of $2.8492.

Gasoline: The spot-month contract closed 4.85cts lower. The secondary (intermediate-term) trend is sideways to down. The spot-month contract is testing support between $2.9069 and $2.8037, prices that mark the 33% and 50% retracement levels of the previous uptrend from $2.4945 through the high of $3.1128.

Natural Gas: The spot-month contract closed 14.3cts lower. The secondary (intermediate-term) trend remains down. Support for the spot-month contract remains between $4.414 and $4.249, the 61.8% and 67% retracement levels of the previous uptrend from $3.129 through the high of $6.493. Weekly stochastics are approaching the oversold level of 20%.

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