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ICE BRENT: (V17) $50.88 Support Remains...>

OIL TECHS
OIL TECHS: ICE BRENT: (V17) $50.88 Support Remains Key
*RES 4: $53.64 - High Aug 10 
*RES 3: $53.35 - 200-DMA 
*RES 2: $52.64 - Hourly support Aug 10 now resistance 
*RES 1: $52.29 - Hourly resistance Aug 10
*PRICE: $51.94 @ 0430GMT
*SUP 1: $51.30 - Low Aug 11 
*SUP 2: $51.20 - 100-DMA 
*SUP 3: $51.13 - 21-DMA 
*SUP 4: $50.88 - Low Aug 1
*COMMENTARY: The pop above the 200-DMA ($53.35) lacked follow through Thursday
with the sell-off that followed leaving the contract looking heavy and focus
back on $50.88-51.30. Bears continue to look for a close blow $50.88 to confirm
breaks of DMAs, an easing of bullish pressure and a shift in initial focus to
$49.47-55 where the 55-DMA is noted. Bulls need a close above the falling Tl
($53.99) to initially target $55.23.

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