April crude oil took a gap down and was lower overnight as it consolidates some of last Thursday's rally and digest the news from this weekend's OPEC meeting.
Stochastics and the RSI are neutral to bearish hinting that a short term top might be in or is near.
Closes below the 20 day moving average crossing at $42.79 are needed to confirm that a short term top has been posted.
If April renews the rally off February's low, the reaction high crossing at $50.88 is the next upside target.
First resistance is last Monday's high crossing at $48.83.
Second resistance is the reaction high crossing at $50.88.
First support is the overnight low crossing at $43.62.
Second support is the 20 day moving average crossing at $42.79.
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