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

OIL TECHS: ICE BRENT: (V17) $50.23 Support Remains Key

*RES 4: $54.44 - Falling daily TL (a) 

*RES 3: $53.42 - 200-DMA 

*RES 2: $52.01 - Falling daily TL 

*RES 1: $51.66 - High July 27

*PRICE: $51.46 @ 0430GMT

*SUP 1: $50.99 - Hourly support July 27 

*SUP 2: $50.58 - Low July 27 

*SUP 3: $50.23 - Low July 26 

*SUP 4: $49.88 - Hourly resistance July 25 now support

*COMMENTARY: The recovery from dips below the 21-DMA ($49.23) continues with the

contract trading above the 100-DMA ($51.18). Focus has now shifted to the

$53.42-54.44 region where the longer term falling daily TL and 200-DMA are

located. Layers of support are building with bears needing a close below $50.23

to shift focus back to 21 & 55-DMAs $49.23-67. O/B daily studies and the

Bollinger top are key concerns for bulls.