(H20) Approaches Key Support *RES 4:......>

WTI TECHS: (H20) Approaches Key Support

*RES 4: $57.42 - Low Jan 15 and former breakout level

*RES 3: $55.95 - High Jan 24

*RES 2: $54.37 - High Jan 29 and key near-term resistance

*RES 1: $53.36 - High Jan 31

*PRICE: $51.45 @ 06:55 GMT Feb 3

*SUP 1: $50.42 - Intraday low

*SUP 2: $50.18 - Low Oct 3 and key support

*SUP 3: $50.08 - Low Aug 7 and major support

*SUP 4: $46.59 - 123.6% retracement projection of the Oct 3 - Jan 8 rally

WTI maintains a bearish outlook following January's sharp slide. Last week's

breach of former support at $52.13, Jan 27 low confirmed a resumption of the

downtrend with more weakness likely near-term. Furthermore, we've yet to see a

meaningful correction unfold as bearish conditions dominate. This also

reinforces current conditions. Attention is on $50.18 next, the Oct 3 low ahead

of $50.08, the Aug 7 low and key support. $54.37 marks firm resistance.