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ICE BRENT: (V17) Bulls Focused On.........>

OIL TECHS
OIL TECHS: ICE BRENT: (V17) Bulls Focused On $53.40-55.23
*RES 4: $55.23 - Monthly High May 25 
*RES 3: $54.40 - Falling daily TL (a) 
*RES 2: $53.40 - 200-DMA, High May 29 
*RES 1: $52.52 - Daily Bull channel top
*PRICE: $52.38 @ 0430GMT
*SUP 1: $51.93 - Hourly support July 28 
*SUP 2: $51.67 - High July 27 now support 
*SUP 3: $51.19 - 100-DMA 
*SUP 4: $50.58 - Low July 27
*COMMENTARY: The recovery from dips below the 21-DMA ($49.43) continues with the
contract pressuring the daily bull channel top and bulls currently focused on
$53.40-55.23 where the falling daily TL, 200-DMA and monthly highs are located.
Layers of support are accumulating with bears now needing a close below $51.67
to ease immediate bullish pressure and below the 100-DMA to shift focus back to
$49.43-50.23. O/B studies and the Bollinger top are key concerns for bulls.

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