CRUDE OIL closed sharply lower on Friday and the lowrange close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible nearterm. If it extends this week's decline, the 50% retracement level of the 20112012rally crossing is the next downside target. Closes above Tuesday's high are needed to confirm that a low has been posted.
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