Crude Oil closed lower on Tuesday and is poised to resume last week's decline. The mid-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it renews last week's decline, the 87% retracement level of the February-April rally crossing is the next downside target.
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