(H20) $52.20 Key Resistance Under.........>

WTI TECHS: (H20) $52.20 Key Resistance Under Pressure

*RES 4: $55.46 - 38.2% retracement of the Jan 8 - Feb 4 decline

*RES 3: $54.37 - High Jan 29 and key near-term resistance

*RES 2: $53.36 - High Jan 31

*RES 1: $52.34 - High Feb 14

*PRICE: $52.04 @ 08:10 GMT Feb 17

*SUP 1: $49.31 - Low Feb 4 and key bear trigger

*SUP 2: $46.59 - 123.6% retracement projection of the Oct 3 - Jan 8 rally

*SUP 3: $44.37 - 138.2% retracement projection of the Oct 3 - Jan 8 rally

*SUP 4: $42.57 - 150.0% retracement projection of the Oct 3 - Jan 8 rally

WTI is holding onto the recent bounce off the Feb 4 low of $49.31. The current

focus is on the potential for a correction higher near-term. This will depend on

resistance at $52.20, Feb 6 high that was probed Friday. If cleared, the

evidence would point towards short-term base building and open $54.37, the Jan

29 high. A failure to hold onto gains however would again highlight this year's

bearish theme with key support at $49.31, the Feb 4 low.