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lower on Monday and the lowrange close sets the stage for a steady to lower opening when Tuesday's night session begins. Stochastics and the RSI are turning neutral to bullish hinting that sideways to higher prices are possible nearterm. If it renews the rally off June's low, the 50% retracement level of this year's decline crossing is the next upside...
Monday as it renews the rally off June's low. The highrange close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are bearish hinting that a shortterm top might be in or is near. If it extends the rally off June's low, the 38% retracement level of the 20112012decline crossing is the next upside target. Closes below the 20day moving average crossing are needed to confirm...
due to short covering on Monday but remains below the 20day moving average. The highrange close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that additional weakness is possible. If it extends last week's decline, the reaction low crossing is the next downside...
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Crude Oil Daily Outlook