Crude Oil closed higher on Thursday as it extends the rebound off May's low. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted. If it renews the decline off May's high, last July's low crossing is the next downside target.
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