Crude Oil closed lower on Friday as it consolidated some of the rally off May's low. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain bullish signalling 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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