Crude Oil - Daily technical Forecast

15 March 2010 @ 09:54 am EDT

Crude Oil closed lower due to profit taking on Friday as it consolidated some of this rally off February's low. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought, diverging and are turning neutral to bearish hinting that a short-term top might be in place. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted.

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