NYMEX HO (G20): All Key Supports..........>

OIL TECHS: NYMEX HO (G20): All Key Supports Cleared

*RES 4: $1.9722 - High Jan 8

*RES 3: $1.9224 - High Jan 14

*RES 2: $1.8859 - High Jan 21 and key near-term resistance

*RES 1: $1.8306 - High Jan 22

*PRICE: $1.7945 @ 07:17 GMT Jan 24

*SUP 1: $1.7506 - Low Jan 23 and key intraday support

*SUP 2: $1.7000 - Round number support

*SUP 3: $1.6719 - 123.6% retracement of the Aug - Jan rally

*SUP 4: $1.6191 - 138.2% retracement of the Aug - Jan rally

HO traded sharply lower again yesterday to maintain the impulsive bearish tone

that has dominated since Jan 8. Futures have cleared all the key support levels

from between August - December and the focus turns to the 1.7000 handle. A sharp

bounce off yesterday's low of $1.7506 highlights the near-term importance of

this level. A break would confirm again a resumption of the downtrend. While it

holds, we may see a near-term corrective bounce.