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(H20) Bearish Extension *RES 4: $58.38....>

WTI TECHS
WTI TECHS: (H20) Bearish Extension
*RES 4: $58.38 - High Jan 22
*RES 3: $57.42 - Low Jan 15 and former breakout level
*RES 2: $55.95 - High Jan 24
*RES 1: $54.37 - High Jan 29
*PRICE: $53.06 @ 06:34 GMT Jan 31
*SUP 1: $51.66 - Low Jan 31
*SUP 2: $51.09 - Low Oct 10
*SUP 3: $50.18 - Low Oct 3 and key support
*SUP 4: $50.08 - Low Aug 7 and major support
WTI traded lower yesterday breaching former support at $52.13, the Jan 27 low.
This confirms a resumption of the downtrend with more weakness likely near-term.
Recent sharp losses are still seen weighing on sentiment and we've yet to see a
meaningful correction unfold as bearish conditions dominate. Attention is on
$51.09 next, the Oct 10 low ahead of $50.18, the Oct 3 low and key support.
$54.37 marks resistance.

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