Markets

Trading Forecast Crude Oil

Crude Oil closed higher on Thursday as it consolidates Wednesday's decline below May's low crossing . The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI remains bearish signalling that sideways to lower prices are possible near-term. If it this week's decline, the 38% retracement level of the 2010-2011-rally crossing is the next downside target. Closes above Wednesday's high crossing would 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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