Crude Oil closed higher on Monday and is poised to renew last week's rally. The mid-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off May's low, the 50% retracement level of last month's decline crossing is the next upside target. Closes below last Monday's low crossing would confirm that a short-term top has been posted.
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