US Oil closed slightly lower on Monday as it extended the decline off July's high. The midrange close sets the stage for a steady to lower opening when Tuesday's night session begins. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near term. Multiple closes below the 20day moving average crossing are needed to confirm that a short term top has been posted. If it renews the rally off April's low, weekly resistance crossing is the next upside target.