12:17 PM
alphaadvisory
US Oil closed lower on Wednesday and the midrange close sets the stage
for a steady opening on Thursday. Stochastics and the RSI are bearish
signalling that sideways to lower prices are possible near term. If it
extends this week decline, the 87% retracement level of the
November-February rally crossing is the next downside target. Closes
above the 20day moving average crossing would confirm that a low has
been posted.
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