(J20) Key Intraday Support Is $50.45......>

WTI TECHS: (J20) Key Intraday Support Is $50.45

*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 - High Feb 24

*PRICE: $51.96 @ 07:25 GMT Feb 25

*SUP 1: $50.45 - Low Feb 24

*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 started the week yesterday on a softer note.

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

lower is for now being viewed as a corrective pullback. Support lies at

yesterday's $50.45 low. An ability to hold above this level would resume

attention on gains and the bull trigger at $54.66. A break lower though would

set the scene for a deeper pullback towards the key $49.50 support.