CRUDE OIL closed lower on Friday extending this month's decline. The lowrange close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible nearterm. If it extends this month's decline, the 62% retracement level of the 20112012rally crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a low has been posted.