Crude Oil closed higher due to short covering on Wednesday and the high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. Closes above the reaction high crossing are needed to confirm that a short-term low has been posted. If it renews the decline off May's high, last July's low crossing is the next downside target.