Crude Oil - Daily technical Forecast

on February 16 2010 10:16 AM

Crude Oil closed lower due to profit taking on Monday as it consolidated some of the rally off last week's low. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off last week's low, the reaction high crossing is the next upside target.

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