US OIL closed higher on Thursday and the midrange close sets the stage for a steady opening when Friday's night session begins. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off September's high, the 87% 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.

Copyright HY Markets All rights reserved.