NYMEX HO (G20): Impulsive Downtrend.......>

OIL TECHS: NYMEX HO (G20): Impulsive Downtrend Still Dominates

*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: $1.7846 @ 07:34 GMT Jan 23

*SUP 1: $1.7770 - Low Jan 22

*SUP 2: $1.7769 - Low Sep 3

*SUP 3: $1.7574 - Low Aug 7 and key support

*SUP 4: $1.7500 - Round number support

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 October - December and the focus turns to the Sep 3 low of $1.7769,

and $1.7574, the Aug 7 low. The latter marks a key support handle. On the

upside, key near-term resistance has been defined at $1.8859, Tuesday's high.