Crude Oil closed higher due to short covering on Tuesday as it consolidated some of the decline off last Friday's high. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends Monday's decline, the reaction low crossing is the next downside target. If it renews the rally off February's low, January's high crossing is the next upside target.
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