August crude oil future contract closed higher on Thursday as it extends this summer's rally. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are overbought but are neutral signaling that sideways to higher prices are possible near-term. If August extends this month's rally, weekly resistance crossing at 77.45 is the next upside target. Closes below the 20-day moving average crossing at 71.84 would confirm that a short-term top has been posted....
Three More Compelling Reasons To Like Oilsands Quest - Posted on Jul 16th, 2007 with stocks: BQI