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.
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