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ICE BRENT: (V17) $50.23 Support Key.......>

OIL TECHS
OIL TECHS: ICE BRENT: (V17) $50.23 Support Key Today
*RES 4: $54.48 - Falling daily TL (a) 
*RES 3: $53.39 - 200-DMA 
*RES 2: $52.08 - Falling daily TL 
*RES 1: $51.20 - High July 26
*PRICE: $51.05 @ 0430GMT
*SUP 1: $50.78 - Hourly support July 26 
*SUP 2: $50.23 - Low July 26 
*SUP 3: $49.88 - Hourly resistance July 25 now support 
*SUP 4: $49.66 - 55-DMA
*COMMENTARY: The recovery from dips below the 21-DMA ($49.03) continues with the
contract currently flirting with the 100-DMA ($51.05). Bulls look for a close
above $51.20 to confirm a break, shifting initial focus to $52.08 and overall
focus to $53.39-57.48 where the 200-DMA is situated. Layers of support building
add to bullish confidence with bears now needing a close below $50.23 to shift
focus back 21 & 55-DMAs.

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