Crude Oil closed higher on Wednesday and above the 10-day moving average crossing signaling that a short-term low is in or is near. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are 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.
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