CRUDE OIL closed lower 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 turning neutral to bearish hinting that a shortterm top might be in or is near. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted. If it extends the rally off June's low, the 75% retracement level of this year's decline crossing is the next upside target.
Join the Discussion