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US OIL closed higher on Thursday and the highrange close sets the stage for a steady to higher opening when Friday's night session begins. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible nearterm. Multiple closes above the 20day moving average crossing would confirm that a low has been posted. If it renews the decline off September's high, the 62% retracement level of the JuneSeptember rally crossing is the next downside target.

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