DTN’s Technical Analysis | ENERGY | Jan 11

Brent Crude Oil: The overnight market on ICE was up slightly near $61.80, trading at a $62.49 five-week high. The spot-month contract is in a short-term uptrend, moving above the 50-day moving average at $61.47. Resistance is found at the $65.54 50% retracement point for the 2017-to-2018 uptrend. The forward curve is in a contango market structure through August delivery. The relative strength index shows a neutral market. Crude Oil: The overnight WTI market was up $0.20 near $52.70, trading at a $53.31 five-week high. The spot-month contract is in a short-term uptrend, moving above the 50-day moving average at $52.66. Resistance is marked at the $55.36 61.8% retracement point for the 2017-to-2018 uptrend. The forward curve is in contango market structure through November delivery. The relative strength index shows a neutral market. Distillates: The overnight market was up 0.35cts near $1.9095, trading at a $1.9235 five-week high. The spot-month contract is in a short-term uptrend, moving above resistance at $1.9020, the 50% retracement point for the 2017-to-2018 uptrend. Resistance is again found at the $2.0313 38.2% retracement point. The forward curve is in seasonal backwardation. The relative strength index shows a neutral market. RBOB Gasoline: The overnight market was down 0.15cts near $1.4295, trading at a $1.4468 fresh four-week high. The spot-month contract continues to test resistance at the $1.4277 61.8% retracement point for the 2016-to-2018 uptrend. Retracement resistance is again found at $1.5340. The forward curve is in contango through June delivery. The relative strength index shows a…

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