US Oil closed higher on Thursday following Wednesday's Petroleum Inventory that showed declining Midwest diesel supplies. Today's close above the 10day moving average crossing confirmed that a short term low has been posted. The high range close sets the stage for a steady to higher opening when Friday's night session begins. Stochastics and the RSI are turning neutral to bullish signalling that sideways to higher prices are possible near term. If it extends this week's rally, July's high crossing is the next upside target.