Crude Oil closed sharply higher and above June's high crossing as it renews the rally off May's low. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are diverging but have turned bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off May's low, the reaction high crossing is the next upside target. Closes below the 20-day moving average crossing would temper the near-term friendly outlook.
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