U.S. Oil posted an upside reversal on Monday. The high range close sets the stage for a steady to higher opening when Tuesday's night session begins. Stochastics and the RSI are bearish, signaling that sideways to lower prices are possible near term. If it extends the decline off June's high, June's low crossing is the next downside target. Closes above the 10day moving average crossing would confirm that a short term low has been posted.

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