Resistance will now be found on a retest to the initial lows this week at $91.92, with further resistance at the 200-day moving average at $92.10. Only a close back above $92.54 can help this market negate this bearish activity, but much more would be needed to regain buying interest.
(Read More: Technical Indicators Turn Traders Bearish on Crude Oil)
Below $91.48 support, the market has found some support against the $90.98 level so far. Use equities as a gauge for this market, and with an S&P below 1500, look for further downside.
A close below 82 in the dollar index can help bring some support to crude.