US OIL closed lower on Friday as weak earnings spur ideas of weakening energy demand. The lowrange close sets the stage for a steady to lower opening when Monday's night session begins. Stochastics and the RSI are turning neutral to bearish signalling that sideways to lower 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.

Copyright HY Markets All rights reserved.