CRUDE OIL closed higher on Friday and the highrange close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain neutral to bullish signalling that a high might be in or is near. Closes above last Tuesday's high crossing are needed to confirm that a shortterm low has been posted. If it renews the decline off March's high, the 38% retracement level of the OctoberMarch rally crossing is the next downside target.
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