Crude Closes Lower Shrugging Off OPEC Meeting On Sunday

April crude oil closed lower on Friday as it consolidated some of Thursday's rally.

The low range close sets the stage for a steady to lower opening on Monday.

Stochastics and the RSI have turned bearish hinting that a short term top might be in or is near.

Closes below the 20 day moving average crossing at $42.68 would temper the near term friendly outlook in the market.

If April extends this month's rally, the reaction high crossing at $50.88 is the next upside target.

First resistance is Monday's high crossing at $48.83.

Second resistance is the reaction's high crossing at $50.88.

First support is the 20 day moving average crossing at $42.67.

Second support is the reaction low crossing at $39.44.