Markets

Trading Forecast Crude Oil

Crude Oil closed lower on Monday as it extended the decline off May's high. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are bearish signalling that additional weakness is possible near-term. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted. If it extends the aforementioned decline, the 50% retracement level of the 2009-2011-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.

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