CRUDE OIL closed lower due to profit taking on Thursday and the lowrange close sets the stage for a steady to lower opening when Friday's night session begins. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible nearterm. If it extends this week's rally, the 38% retracement level of this year's decline crossing is the next upside target. Closes below the 10day moving average crossing would temper the nearterm friendly outlook.
Join the Discussion