/
 
Crude Oil closed lower on Wednesday and the low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are neutral to bearish signalling that a short-term top is in or is near. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. If it renews the rally off July's low, the 75% retracement level of the June-July decline crossing is the next upside target.