MIDEAST STOCKS-Saudi plunges 5.9 pct as region continues slide

* Gulf markets adjusting to cheap oil paradigm * Saudi index breaks chart support, hits 29-month low * Market has lost 23 percent in August * Dollar/riyal forwards, Saudi CDS continue rising * Other markets fall less steeply, see bargain-hunting By Andrew Torchia DUBAI, Aug 24 (Reuters) - Saudi Arabia's stock market plunged 5.9 percent on Monday, leading another day of losses across the Middle East as the region reacted to sliding oil prices and a deteriorating global en