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(H20) Clears Key Support *RES 4: $57.42...>

WTI TECHS
WTI TECHS: (H20) Clears 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: $50.71 @ 06:28 GMT Feb 4
*SUP 1: $49.66 - Intraday low
*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 maintains a bearish outlook following January's sharp slide and was weaker
again yesterday. Last week's breach of former support at $52.13, Jan 27 low
confirmed a resumption of the downtrend. Furthermore, we've yet to see a
meaningful correction unfold as bearish conditions dominate. This also
reinforces current conditions. Attention is on $46.59 next, now that $50.08, the
Aug 7 low and key support has been cleared. $54.37 marks firm resistance.

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