US Oil Charts: RSI Stays Neutral, Hinting Bearish

Published 02/19/2013, 06:27 AM
Updated 05/14/2017, 06:45 AM

US Oil closed lower on Monday and the mid-range close sets the stage for a steady opening when Tuesday's night session begins. Stochastic and the RSI are diverging and turning neutral to bearish hinting that a short-term top might be in or is near. Closes below Monday's low crossing would confirm that a short-term top has been posted. If it renews the rally off December's low, the 87% retracement level of the September-November decline crossing is the next upside target.
US Oil Charts

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