Markets

Trading Forecast Crude Oil

Crude Oil closed higher on Monday and above the 10-day moving average crossing signalling that a short-term low might be in or is near. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term.If it renews this summer's decline, the 75% retracement level of the 2009-2011-rally crossing at 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