Crude Oil closed sharply higher due to unrest in the Middle East on Tuesday and posted a new contract high. The mid-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are turning bullish signalling that sideways to higher prices are possible near-term. If it extends today's rally, the 62% retracement level crossing is the next upside target. Closes below last Tuesday's low crossing would confirm that an important top has been posted.