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Crude Oil closed slightly lower on Friday and The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI have turned bullish signalling that sideways to higher prices are possible near-term. Closes above the 10-day moving average crossing would signal that a short-term low might be in or is near. If it renews this summer's decline, the 75% 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.
