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OIL TECHS
OIL TECHS: ICE BRENT: (V17) $50.88 Support Now Key
*RES 4: $53.64 - High Aug 10 
*RES 3: $52.64 - Hourly support Aug 10 now resistance 
*RES 2: $52.29 - Hourly resistance Aug 10 
*RES 1: $52.04 - Hourly resistance Aug 11
*PRICE: $51.69 @ 0430GMT
*SUP 1: $51.37 - Low Aug 7 
*SUP 2: $51.20 - 100-DMA 
*SUP 3: $50.99 - 21-DMA 
*SUP 4: $50.88 - Low Aug 1
*COMMENTARY: The pop above the 200-DMA ($53.34) lacked follow through Thursday
with the sell-off that followed leaving the contract looking heavy and focus
back to $50.88-51.37. Bears continue to look for a close blow $50.88 to confirm
an easing of bullish pressure and a shift in initial focus to $49.43-49 where
the 55-DMA is noted. Correcting O/B studies add weight to the bearish case.

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