After several contacts with the 66.5 level by end January, oil
is headed back to that region once again. Resistance is expected around the 63.3 region as this had been a strong support level
before. During an eventual retracement, the 60.8 region can be a good support or, if this support fails, 58.20 should become its last support before heading even lower as selling pressure should be expected then. Should it successfully assault the 63.3 area, a retesting of the 66.5 level is almost granted.