NYMEX HO (G20): Uptrend Remains Intact....>

OIL TECHS: NYMEX HO (G20): Uptrend Remains Intact

*RES 4: $2.1322 - 2.000 projection of Oct 3 - Oct 28 rally from Nov 20 low

*RES 3: $2.1080 - 1.618 projection of Oct 3 - Oct 28 rally from Nov 20 low

*RES 2: $2.0885 - 1.500 projection of Oct 3 - Oct 28 rally from Nov 20 low

*RES 1: $2.0782 - High Dec 30

*PRICE: $2.0393 @ 07:15 GMT Dec 31

*SUP 1: $2.0328 - Low Dec 30

*SUP 2: $2.0118 - Low Dec 23

*SUP 3: $2.0017 - Low Dec 18

*SUP 4: $1.9725 - High Dec 6 and former breakout point

HO traded in a choppy manner yesterday but remains bullish. The mid-December

break of $1.9668, Nov 27 high confirmed a clear range breakout and a resumption

of the recovery that began on Oct 3. The break higher has also probed key

resistance at $2.0618, the Sep 16 high. A clear breach would further reinforce a

bullish theme and pave the way for gains towards 2.0885, a Fibonacci projection

level. Firm support is seen at $2.0118, Dec 23 low.