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Crude Oil closed higher on Wednesday as it extends the rally off last week's low. The mid-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing are needed to confirm that a low has been posted. If it renews this summer's decline, the 75% retracement level of the 2009-2011-rally crossing is the next downside target.