Markets

Crude Oil - Daily technical Forecast

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Crude Oil closed sharply higher on Wednesday as it rebounds off the 50% retracement level of the August-November rally crossing. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are oversold and turning neutral to 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 short-term low has been posted.

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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