Crude Oil Technical Daily Outlook 9/21

By International Business Times,  September 21, 2012, 04:24:28 AM EDT

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CRUDE OIL closed higher on Thursday and the highrange close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are diverging and turning neutral to bearish signalling that a shortterm top might be in or is near. Multiple closes below the reaction low crossing would confirm that a top and trend change has been posted. If it extends the rally off June's low, the 75% retracement level of this year's decline crossing is the next upside target.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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