(J20) Approaches Key Support *RES 4:......>

WTI TECHS: (J20) Approaches Key Support

*RES 4: $55.42 - 38.2% retracement of the Jan 8 - Feb 4 decline

*RES 3: $54.66 - High Feb 20 and bull trigger

*RES 2: $52.64 - High Feb 24

*RES 1: $52.02 - High Feb 25

*PRICE: $49.90 @ 07:09 GMT Feb 26

*SUP 1: $49.69 - Low Feb 25

*SUP 2: $49.50 - Low Feb 4 and key bear trigger

*SUP 3: $46.46 - 123.6% retracement projection of the Oct 3 - Jan 8 rally

*SUP 4: $44.27 - 138.2% retracement projection of the Oct 3 - Jan 8 rally

WTI stalled last week at $54.66 and remains under pressure for now. The recent

pullback has defined the $54.66 level as a key S/T resistance. Although the move

lower is viewed as a corrective pullback, the risk for a retest of key support

at $49.50 has increased. A break would confirm a resumption of this year's

downtrend. On the upside, a break of yesterday's $52.02 high would ease the

current bearish pressure.