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ICE BRENT: (X17) $54.44 Resistance........>

OIL TECHS
OIL TECHS: ICE BRENT: (X17) $54.44 Resistance Remains Key
*RES 4: $55.33 - Monthly High May 25 
*RES 3: $55.03 - Bollinger band top 
*RES 2: $54.87 - High Sept 8 
*RES 1: $54.44 - Hourly support Sept 8 now resistance
*PRICE: $54.16 @ 0315GMT
*SUP 1: $53.87 - Hourly support Sept 12 
*SUP 2: $53.40 - 200-DMA 
*SUP 3: $52.95 - High Sept 1 now support 
*SUP 4: $52.47 - 21-DMA
*COMMENTARY: The contract continues to find support on dips back to $52.95 with
the 200-DMA supporting Tuesday. Bears need a close below $52.95 to confirm a
break of the 200-DMA and an easing of bullish pressure with immediate focus
shifting to the 21-DMA. Daily studies correcting from O/B and the Bollinger top
are concerns for bulls who now need a close above $54.44 to initially pressure
$54.87.

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