US OIL closed lower on Thursday as it extends the trading range of the past six days. The midrange close sets the stage for a steady opening when Friday's night session begins. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. 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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