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

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.