A generic image of two people across each other
Markets

Trading Forecast Crude Oil

Crude Oil closed sharply lower on Wednesday and below May's low crossing marking a downside breakout of this spring's trading range. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. If it extends today's trading range breakout, the 38% retracement level of the 2010-2011-rally crossing is the next downside target.

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.

Other Topics

Commodities