Topic: Daily Market commentary by HY Markets
US OIL closed lower on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins. Stochastics and the RSI are neutral to bearish hinting that sideways to lower prices are possible near-term. Multiple closes below Tuesday's low crossing needed to confirm that a short-term top has been posted. If it renews this summer's rally, weekly resistance crossing is the next upside target.
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