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

OIL TECHS: ICE BRENT: (X17) Layers of Resistance $52.67-54.02

*RES 4: $53.54 - High May 29 

*RES 3: $53.42 - 200-DMA 

*RES 2: $52.67 - High Aug 21 

*RES 1: $52.44 - Hourly resistance Aug 28

*PRICE: $52.18 @ 0310GMT

*SUP 1: $52.03 - Hourly resistance Aug 25 now support 

*SUP 2: $51.52 - Low Aug 25 

*SUP 3: $51.12 - 100-DMA 

*SUP 4: $50.96 - Low Aug 21

*COMMENTARY: Support continues to emerge on dips back towards $50.96 with the

100-DMA supporting last week. The bull channel base comes in around $50.60 with

bears needing a close below to hint at a deeper correction and below the 55-DMA

($49.87) 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 $53.42-54.02

and above $54.02 to reconfirm a bullish bias and target $55.33.