WTI Crude Oil (USDWTI) retreated from 46-46.50 area. The price action right now should convince the market that bears are in charge in the short to medium-term. USD/WTI 9/6(click to enlarge)Bearish confirmations:- First let's go back to the August bull swing from 39.17 to 49.09. - This was a strong rally that looked like it was going to 50 (I called for it to pop to 50). - However, it stalled at 49.00 and formed a price top and broke below a rising trendline at the end of August. - After falling to 43, there seemed to be a bullish reversal. However, found resistance in the previous support area around 46-46.50. - Furthermore, note that price is in a slingshot from the 100-, and 50-period simple moving averages (SMAs). - Finally the RSI held under 60 after it pushed below 30. This is a classic sign that there is developing bearish momentum.Bearish targets:- First the 43 low is back in sight, with risk of extension towards the 40.00 handle.- I think 40.00 could be a sticky price, and even if price can stretch lower, I think there will be gravity towards 40.00 at least in the short-term. - If price does stretch lower, we should monitor a common support/resistance pivot around just under 38.00.