(J20) Bearish Threat Still Present........>

WTI TECHS: (J20) Bearish Threat Still Present Despite Bounce

*RES 4: $46.38 - High Mar 6

*RES 3: $43.32 - Low Mar 2

*RES 2: $41.05 - Low Mar 6 and gap high on the daily chart

*RES 1: $36.35 - Intraday high

*PRICE: $34.80 @ 06:57 GMT Mar 11

*SUP 1: $30.20 Low Mar 10

*SUP 2: $27.34 - Low Mar 9 and bear trigger

*SUP 3: $23.85 - 2.00 projection of the Jan 8 Feb 4 decline from Feb 20 high

*SUP 4: $20.20 - 2.236 projection of the Jan 8 Feb 4 decline from Feb 20 high

WTI remains vulnerable despite this week's recovery. The slide Monday confirmed

a resumption of this year's downtrend paving the way for more weakness. The

focus is on $23.85 next, a Fibonacci projection. Note that Monday's price action

has created a $33.59 - $41.05 gap on daily charts. This has been partially

filled today and it would not be a surprise to see the market fill this entire

gap. Whether this happens in the near-term or later remains to be seen.