WTI Crude has recovered 61.8% of Tuesday's losses. Resistance at 5400/10 is key therefore. Shorts need stops above the LATE December high at 5437 to target the December high at 5450/51. Above 5460 we are likely to retest the Tuesday high at 5520/24.
Failure to beat resistance at 5400/10 targets 5370 and first support at 5335/30 but below here tests the best support for today at 5285/80. Watch for a bounce from here if bulls are to remain in control. A break below 5260 however could retest good support at the 5216/11 low.