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ICE BRENT: (X17) $49.81 Support Remains...>

OIL TECHS
OIL TECHS: ICE BRENT: (X17) $49.81 Support Remains
*RES 4: $52.67 - High Aug 21 
*RES 3: $52.44 - Hourly resistance Aug 28 
*RES 2: $51.79 - High Aug 29 
*RES 1: $50.96 - Low Aug 21 now resistance
*PRICE: $50.75 @ 0430GMT
*SUP 1: $50.49 - Hourly support Aug 31 
*SUP 2: $50.15 - Bollinger band base 
*SUP 3: $50.00 - 55-DMA 
*SUP 4: $49.81 - Low Aug 17
*COMMENTARY: Pressure on the 100-DMA ($50.93) took its toll with a break and
close below the 100-DMA and bull channel base ($50.98) that now sees immediate
focus on $49.81-00 where the 55-DMA is located. A close below $49.81 is now
needed to initially target $47.78-48.26. Initial resistance is noted at $50.96
with bulls needing a close above to gain breathing room. Above $51.79 returns
focus to $52.67.

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