Markets

Trading Forecast Crude Oil

Crude Oil closed slightly higher on Thursday as it extends the rally off August's low. The mid-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. Closes above the reaction high 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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