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Crude Oil closed lower due to profit taking on Friday as it consolidates some of last week's rally. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought and are turning neutral to bearish hinting that a short-term top might be in or is near.

Closes below the 20-day moving average crossing would confirm that a short-term top has been posted. If it extends the rally off May's low, the reaction high crossing is the next upside target.