Markets

Crude Oil - Daily technical Forecast

Crude Oil closed lower due to profit taking on Tuesday as it consolidated some of this month's rally. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are overbought and are turning neutral hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing would temper the near-term friendly outlook. If it extends the rally off this month's low, June's high 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 Nasdaq, Inc.


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

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