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ICE BRENT: (V17) O/B Daily Studies........>

OIL TECHS
OIL TECHS: ICE BRENT: (V17) O/B Daily Studies Remain Key Concern
*RES 4: $53.39 - 200-DMA, High May 29 
*RES 3: $52.93 - High Aug 1 
*RES 2: $52.36 - Hourly resistance Aug 3 
*RES 1: $52.07 - Hourly resistance Aug 4
*PRICE: $51.85 @ 0430GMT
*SUP 1: $51.77 - Low Aug 3 
*SUP 2: $51.18 - 100-DMA, Hourly support Aug 1 
*SUP 3: $50.88 - Low Aug 1 
*SUP 4: $50.58 - Low July 27
*COMMENTARY: Yet another topside failure ahead of the 200-DMA is a concern for
bulls given daily studies looking to correct from O/B and the significance of
the $53.39-55.23 resistance region. The $50.88 support remains key with bears
needing a close below to shift immediate focus to $49.62-50.23 where 21 &
55-DMAs are situated. Bulls look for a close above $52.36 to gain breathing room
and retain focus on $53.39-55.23.

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