Markets

Trading Forecast Crude Oil

Crude Oil closed sharply lower and The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI remain neutral to 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. 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.

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