Crude Oil closed lower on Thursday as it extends yesterday's breakout below the 20-day moving average crossing. Renewed concerns over both the domestic and world economy and the negative ramifications of potential lower world demand continues to weigh on the energy complex. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term.
Join the Discussion