Markets

Trading Forecast Crude Oil

Crude Oil closed lower on Tuesday and the high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off April's low, the 62% retracement level of the 2008-2009-decline crossing is the next upside target. Closes below the 20-day moving average crossing would signal that a short-term top 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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