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(J20) Jan 29 High Breached Yesterday......>

WTI TECHS
WTI TECHS: (J20) Jan 29 High Breached Yesterday
*RES 4: $59.92 - High Jan 9
*RES 3: $57.36/37 - Low Jan 15 / 50% retracement of the Jan 8 - Feb 4 decline
*RES 2: $55.42 - 38.2% retracement of the Jan 8 - Feb 4 decline
*RES 1: $54.39/66 - High Feb 20
*PRICE: $52.98 @ 09:53 GMT Feb 21
*SUP 1: $52.16 - Low Feb 19
*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 traded as high as $54.66 yesterday, through the Jan 29 high and key
resistance at $54.37 before coming off somewhat but the near-term outlook still
looks bullish. A more convincing break of $54.37 would propel WTI towards the
next key resistance at $57.36/37 - the low of Jan 15 and the 50% retracement of
the Jan 8 - Feb 4 decline. Wednesday's low of $52.16 provides an initial support
level.
Energy BulletsCommodities
Energy BulletsCommodities

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