SINGAPORE: US oil may drop more into a range of $106.10 to $107.74 per barrel, as suggested by a projection analysis.

The drop from the Wednesday high of $114.05 looks deep enough to confirm a completion of the bounce from the June 22 low of $101.53.

US oil may retest resistance at $106.10

Resistance is at $110.39, a break above which could lead to a gain to $112.03.