Crude Oil closed higher on Thursday and above the 62% retracement level of the January-February decline crossing as it extended the rally off this month's low. Today's rally was supported by reported outages at Buzzard oil field. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends this month's rally, the 75% retracement level of the January-February decline crossing is the next upside target.
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