US OIL closed lower on Monday however, the highrange close sets the stage for a steady to higher opening when Tuesday's night session begins. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. Multiple closes above last Wednesday's high crossing would confirm that a low has been posted. If it renews the decline off September's high, the 62% retracement level of the JuneSeptember rally crossing is the next downside target.
Copyright HY Markets All rights reserved.
Most Popular Slideshows
- Robert Pattinson-Kristen Stewart: Twilight Lovers To Bring Back Love at 2013 Cannes Festival [PHOTOS]
- Angelina Jolie Double Mastectomy: Other Celebrities Who Also Went Through the Surgical Procedure [PHOTOS]
- IN PHOTOS! A Picture of Sadness in Kristen Stewart as Robert Pattinson Celebrates 27th Birthday ALONE? [SLIDESHOW]
- 'Fifty Shades of Grey' Movie Casting: Chris Evans as Christian Grey [PHOTOS]