(J20) Corrective Pullback *RES 4:.........>

WTI TECHS: (J20) Corrective Pullback

*RES 4: $57.24 - 50% retracement of the Jan 8 - Feb 4 decline

*RES 3: $55.42 - 38.2% retracement of the Jan 8 - Feb 4 decline

*RES 2: $54.66 - High Feb 20 and bull trigger

*RES 1: $52.64 - Intraday high

*PRICE: $51.93 @ 08:39 GMT Feb 24

*SUP 1: $51.15 - Low Feb 18

*SUP 2: $50.16 - Low Feb 12

*SUP 3: $49.50 - Low Feb 4 and key bear trigger

*SUP 4: $46.46 - 123.6% retracement projection of the Oct 3 - Jan 8 rally

WTI stalled last week at $54.66 and has started the week on a softer note. The

pullback has defined the $54.66 level as a key S/T resistance and the move lower

is being viewed as a corrective pullback for now. The next support lies at

$51.15, Feb 18 low. An ability to hold above this level would resume attention

of gains and the bull trigger at $54.66. A break lower though would set the

scene for a deeper pullback towards $50.00.