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(H20) Still Trading Heavy *RES 4:.........>

WTI TECHS
WTI TECHS: (H20) Still Trading Heavy
*RES 4: $61.41 - 50.0% retracement of the Jan 8 - Jan 15 sell-off
*RES 3: $60.47 - 38.2% retracement of the Jan 8 - Jan 15 sell-off
*RES 2: $60.17 - High Jan 9
*RES 1: $59.77 - High Jan 21
*PRICE: $58.10 @ 06:17 GMT Jan 22
*SUP 1: $57.42 - Low Jan 15
*SUP 2: $55.99 - 61.8% retracement of the Oct 3 - Jan 8 rally
*SUP 3: $54.85 - Low Nov 29
*SUP 4: $54.48 - Low Nov 20
WTI was weaker yesterday following a failure to hold onto an early spike.
Futures are seen likely to continue trading heavy near-term following the sharp
sell-off on Jan 8 and the subsequent move lower. The recent sell-off resulted in
a break of support at $60.42, Jan 1 low to effectively suggest a top in the Oct
3 - Jan 8 uptrend. With the technical picture still bearish, attention is on
$55.99, a retracement level. Resistance is $60.17, Jan 9 high.

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