Crude Oil - Daily technical Forecast

By IBTimes Staff Reporter | April 30 2010 2:20 AM

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Crude Oil closed higher on Thursday but remains below the 20-day moving average crossing. The high-range close sets the stage for a steady higher opening on Friday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends last Friday's rally, the reaction high crossing is the next upside target. Closes below last Thursday's high crossing would open the door for a larger-degree decline into early-May.

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