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(J20) 2020 Downtrend Resumes *RES 4:......>

WTI TECHS
WTI TECHS: (J20) 2020 Downtrend Resumes
*RES 4: $54.66 - High Feb 20 and bull trigger
*RES 3: $52.64 - High Feb 24
*RES 2: $52.02 - High Feb 25
*RES 1: $49.50 - Low Feb 4 and former breakout
*PRICE: $48.06 @ 07:14 GMT Feb 27
*SUP 1: $47.22 - 3% Lower Bollinger Band
*SUP 2: $46.46 - 123.6% retracement projection of the Oct 3 - Jan 8 rally
*SUP 3: $44.27 - 138.2% retracement projection of the Oct 3 - Jan 8 rally
*SUP 4: $42.51 - 150.0% retracement projection of the Oct 3 - Jan 8 rally
WTI has resumed its 2020 downtrend. Yesterday's sell-off resulted in a break of
the $49.50 low from Feb 4 and confirms a resumption of the bear trend. The move
lower reinforces the bearish price sequence of lower lows and lower highs and
places bears firmly in control of the trend. Attention is on a move towards
$46.46 next, a Fibonacci retracement projection. On the upside, initial
resistance is seen at $49.50.

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