Friday, June 17, 2011

Trading Forecast Crude Oil

Trading Forecast Crude Oil - Commodities & Futures

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June 15, 2011 4:00 AM GMT

HY Markets
Crude Oil closed higher due to short covering on Tuesday as it consolidates some of its recent losses. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. July remains locked in a trading range. Closes above are needed to confirm a breakout of the aforementioned trading range and point the direction of the next trending move.
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