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

WTI TECHS
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.

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