(H20) Sharp Slide *RES 4: $58.38 - High...>

WTI TECHS: (H20) Sharp Slide

*RES 4: $58.38 - High Jan 22

*RES 3: $57.42 - Low Jan 15 and former breakout level

*RES 2: $56.27 - High Jan 23

*RES 1: $53.71 - High Jan 17

*PRICE: $53.15 @ 06:39 GMT Jan 28

*SUP 1: $52.15 - Intraday low

*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 remains heavy following last week's sell-off. The break on Jan 22 of $57.42,

Jan 15 low confirmed a resumption of the downtrend that has been in place since

the sharp reversal off the Jan 8 high of $65.40. Further weakness is seen likely

with momentum studies still pointing south. Prices traded lower again yesterday.

Attention is on $51.09 next, the Oct 10 low ahead of $50.18, the Oct 3 low and

key support. Initial resistance is seen at $53.71, yesterday's high.