(J20) Off Recent Highs *RES 4: $52.64 -...>

WTI TECHS: (J20) Off Recent Highs

*RES 4: $52.64 - High Feb 24

*RES 3: $52.02 - High Feb 25

*RES 2: $49.50 - Low Feb 4 and former breakout

*RES 1: $48.66 - High Mar 3 and key near-term resistance

*PRICE: $45.54 @ 06:58 GMT Mar 6

*SUP 1: $43.32 - Low Mar 2 and bear trigger

*SUP 2: $42.51 - 150.0% retracement projection of the Oct 3 - Jan 8 rally

*SUP 3: $40.74 - 161.8% retracement projection of the Oct 3 - Jan 8 rally

*SUP 4: $40.00 - Psychological round number

WTI rebounded earlier this week but is off the highs. The outlook remains

bearish. Futures registered a fresh low Monday at $43.32 and last week's

sell-off resulted in a break of $49.50, Feb 4 low confirming a resumption of the

bear trend. The move lower reinforces the bearish price sequence of lower lows

and lower highs and keeps bears in control. Attention is on $42.51 next, a

Fibonacci retracement projection. Resistance is $48.66, Mar 3 high.