11:46 AM
alphaadvisory
US WTI closed higher on Wednesday and the high-range
close sets the stage for a steady to higher opening when Thursday's
night session begins. Stochastics and the RSI are turning neutral to
bearish hinting that additional weakness is possible near-term. Closes
below the 20-day moving average crossing would confirm that a short-term
top has been posted. If it extends the rally off December's low, the
87% retracement level of the September-November decline crossing is the
next upside target.
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