WTI oil eases on Friday after rally on Thursday eventually met target at $52.84 (28 Sep high).
No break higher for now, with consolidation expected before bulls resume.
Slow stochastic is turning south in overbought territory on daily chart and supports scenario.
Dips should be ideally contained by rising 10SMA ($52.13) and trendline support at $51.95, to keep bulls intact.
Break here would signal deeper correction of $49.12/$52.84 upleg and risk extension towards $51.42 (Fibo 38.2%) and $51.27 (20SMA).
Overall picture remains bullish with positive sentiment being boosted by recent comments about possibilities of OPEC-led production cut and strong signs of tightening of oil market which underpins the price for further advance.
Res: 52.84; 53.18; 53.73; 54.27
Sup: 52.13; 51.95; 51.42; 51.27