WTI oil was sharply lower in early US session as strong fall US stock indexes after Wall St opening inflated the dollar.
Fresh weakness probes through pivotal rising 10SMA support ($56.23), generating another bearish signal for reversal which was indicated by overextended daily studies. Close below 10SMA would trigger further easing and extend correction towards $54.53 (Fibo 38.2%/rising 20SMA).
Daily RSI emerged from overbought territory and is heading south, reinforcing negative signal.
Res: 56.75; 57.02; 57.51; 57.90
Sup: 55.82; 55.00; 54.53; 53.88
