KUALA LUMPUR, Nov 28 (Reuters) - The following are factors likely toaffect the performance of Malaysian palm oil futures on Wednesday:* Chicago Board of Trade (CBOT) soyoil futures settled down 0.07 to0.20 cent per lb on Tuesday, with December down 0.20 cent at 16.09 andJanuary down 0.16 cent at 16.26 cents.* One technical analyst in Kuala Lumpur pegged key support at 1,120ringgit in Malaysia's crude palm oil futures."It is crucial for the market to hold above 1,120 ringgit from todayonwards. Many technical indicators are already forming a negativepattern," the analyst said."If the market can break the resistance levels of 1,170 and 1,191 andinstead trade below 1,120, the downside risk will increase," she said.Malaysian crude palm oil ended mostly lower on Tuesday, but withbenchmark February rebounding on technicals and talk the government hasselected firms to be allowed to export CPO without duty.Third-month February futures was down one ringgit at 1,142 ringgit($300.53) a tonne. Volume was heavy at 2,318 lots.Malaysia said earlier this month it would allow duty-free export of 1.3million tonnes of crude palm oil in 2002 to boost the market and helpreduce stocks.This year, the government allowed seven companies to export one milliontonnes of CPO without duty. It said firms which had used up their quotafor 2001 could apply for a new one and would be given permission toutilise next year's allocation starting in December.Malaysia imposes an export tax on CPO on a graduated scale starting at10 percent on prices above 600 ringgit in order to protect itsrefiners.