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ICE BRENT: (X17) Layers of Resistance.....>

OIL TECHS
OIL TECHS: ICE BRENT: (X17) Layers of Resistance $52.67-54.02
*RES 4: $53.46 - 200-DMA 
*RES 3: $52.67 - High Aug 21 
*RES 2: $52.49 - Hourly resistance Aug 21a 
*RES 1: $52.08 - Hourly resistance Aug 24 & 25
*PRICE: $52.02 @ 0300GMT
*SUP 1: $51.55 - Hourly support Aug 24 
*SUP 2: $51.23 - Low Aug 23 
*SUP 3: $51.01 - 100-DMA 
*SUP 4: $50.96 - Low Aug 21
*COMMENTARY: Support continues to emerge on dips back towards $50.96 with the
100-DMA now supporting. The bull channel base comes in around $50.65 today with
bears needing a close below to hint at a deeper correction with below the 55-DMA
($49.82) initially targeting $47.78-48.26. Layers of resistance remain
$52.67-54.02. Bulls need a close above $52.67 to return focus to $53.46-54.02
and above $54.02 to reconfirm a bullish bias and target $55.26.

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