Crude Oil closed higher on Thursday as it extends Wednesday's rally. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are turning 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 resumes last week's decline, the reaction low crossing is the next downside target.
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