715×230

CRUDE OIL closed lower on Friday as it extends this month's decline below the 38% retracement level of the OctoberMarch rally crossing. Stochastics and the RSI are oversold but remain neutral to bearish signalling that additional weakness is possible nearterm. If it extends the decline off March's high, the 50% retracement level of the OctoberMarch rally crossing is the next downside target. Closes above the 20day moving average crossing would signal that a shortterm low has been posted.