Markets

Trading Forecast Crude Oil

Crude Oil closed lower due to profit taking on Tuesday as it consolidated some of the rally off last week's low but remains above the 10-day moving average crossing. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing are needed to confirm that a 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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