Monitors Mild flickering on monitor (LG Flatron E700S)

I have a 17 inch monitor (LG Flatron E700s)...The problem is recently sometimes the corners of my monitor has very mild flickering....Its not noticebale from a distance of more than 3-4 feet....But up close u can really see the flickering clearly....I have a screen refresh rate of 85 Hz...

When I increase the resolution to 1280*1024 the screen refesh rate becomes 60 Hz( cos thats the maximum refresh rate at that resolution), the flickering increases to very graet extend.....U can see 'waves' on the screen...
What could be the problem.....?
 
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