""
 
Crude Oil plunged below June's low on Thursday renewing the decline off May's high. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. If it extends this summer's decline, the 62% retracement level of the 2009-2011-rally crossing is the next downside target. Closes above the 20-day moving average crossing would confirm that a short-term low has been posted.