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Markets

Trading Forecast Crude Oil

Crude Oil closed lower due to profit taking on Monday while extending May's trading range. The mid-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If it renews the rally off May's low, the reaction high crossing is the next upside target. Closes below the reaction low crossing would temper the near-term friendly outlook.

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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