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US OIL closed lower on Wednesday and the lowrange close sets the stage for a steady to lower opening when Thursday's night session begins. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off September's high, the 75% retracement level of the JuneSeptember rally crossing is the next downside target. Closes above the 20day moving average crossing would confirm that a shortterm low has been posted.

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