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Crude Oil closed lower on Wednesday due to an increase in oil inventories and a decline in the equity markets. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off February's low, the 50% retracement level of the 2008-2009-decline crossing is the next upside target.