Crude Oil closed higher on Wednesday above the 10-day moving average crossing. The high-rangeclose sets the stage for a steady to higher opening on Thursday.

Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing are needed to confirm that a short-term low has been posted.

If it renews the decline off August's high, May's low crossing is the next downside target.

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