Crude Oil closed higher due to short covering on Monday as it consolidates some of last Friday's decline. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought and are turning bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted. If it extends the rally off May's low, the reaction high crossing is the next upside target.
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