ICE BRENT: (X17) Hesitating Ahead Of......>

OIL TECHS: ICE BRENT: (X17) Hesitating Ahead Of 200-DMA

*RES 4: $54.02 - Low May 23 now resistance 

*RES 3: $53.47 - Monthly High Aug 10 

*RES 2: $53.40 - 200-DMA 

*RES 1: $52.95 - Sept 1

*PRICE: $52.49 @ 0300GMT

*SUP 1: $52.24 - Low Sept 1 

*SUP 2: $51.72 - 21-DMA 

*SUP 3: $50.96 - Alternating hourly support/resistance 

*SUP 4: $50.49 - Low Aug 31

*COMMENTARY: The recovery from last week's low has stalled ahead of the 200-DMA

and the key $53.40-54.02 resistance region. Bulls continue to look for a close

above $54.02 to reconfirm the bullish bias, ending bearish hopes and shifting

immediate focus to May highs. Bears now need a close below $52.24 to gain

breathing room and below the 21-DMA to shift focus back to $49.81-50.49 where

the 55-DMA is noted.