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ICE BRENT: (X17) 55-DMA Now Key Support...>

OIL TECHS
OIL TECHS: ICE BRENT: (X17) 55-DMA Now Key Support
*RES 4: $52.67 - High Aug 21 
*RES 3: $52.49 - Hourly resistance Aug 21a 
*RES 2: $52.17 - Hourly resistance Aug 21 
*RES 1: $51.71 - 21-DMA
*PRICE: $51.46 @ 0255GMT
*SUP 1: $50.96 - Low Aug 21 
*SUP 2: $50.54 - Low Aug 18 
*SUP 3: $50.30 - Daily Bull channel base 
*SUP 4: $49.81 - Low Aug 17
*COMMENTARY: The recovery from ahead of the 55-DMA ($49.66) appears to have
stalled with the close below $51.98 easing bullish pressure and seeing focus
back on $49.66-50.30 where the 55-DMA and bull channel base are situated. Bears
need a close below the 55-DMA to end bullish hopes, initially targeting
$47.78-48.26 with overall focus on $45.19 June lows. Layers of resistance remain
with bulls needing a close above $52.17 to ease renewed bearish pressure.

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