Markets

Trading Forecast Crude Oil

Crude Oil plunged below June's low on Thursday renewing the decline off May's high. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. If it extends this summer's decline, the 62% retracement level of the 2009-2011-rally crossing is the next downside target. Closes above the 20-day moving average 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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