Crude Oil closed slightly higher on Monday and below the 75% retracement level of this fall's rally crossing. The mid-range close sets the stage for a steady to lower opening on Tuesday. If it extends the decline off October's high, the 87% retracement level of this fall's rally crossing is the next downside target. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted.
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