US Oil closed lower on Wednesday as it extended this week's decline. The low range close sets the stage for a steady to lower opening when Thursday's night session begins. Stochastics and the RSI have turned bearish signalling that sideways to lower prices are possible near term. Closes below the reaction low crossing would confirm that a short term top has been posted. Closes above July's high crossing would renew this summer's rally while opening the door for a possible test of weekly resistance crossing later this summer.