(H20) Off Recent Lows *RES 4: $55.95 -....>

WTI TECHS: (H20) Off Recent Lows

*RES 4: $55.95 - High Jan 24l

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

*RES 2: $53.36 - High Jan 31

*RES 1: $52.20 - High Feb 6

*PRICE: $51.23 @ 06:41 GMT Feb 7

*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 this week bounced off Tuesday's lows as a possible correction unfolds.

Whether this move higher develops into a stronger rebound remains to be seen

though. Attention is on the next resistance at $53.36, the Jan 31 high where a

break would signal scope for an extension towards resistance at $54.37, Jan 29

high. On the downside, key support has been defined at this week's $49.31 low. A

break would resume the recent sell-off.