Indeed WTI Crude started the bearish move we hinted earlier, breaking below 107.35 initial support level, to indicate further downside is likely now, as the bullish move was overextended and RSI is signaling a strong bearish divergence. The main downside target resides at 104.30 area.
Support: 106.00, 105.00, 104.75, 104.00, 103.25
Resistance: 107.35, 108.30, 108.70, 109.35, 109.90
Recommendation Short below 107.35 targets at 106.00 and 104.30. Invalidation above 108.00