Brent oil may retest a support at $78.44 per barrel, a break below which could open the way towards $77.20.
The current rise may end in a resistance zone of $80-$80.40, formed by the 100% projection level of a wave c from $72.68 and the 61.8% retracement of the downtrend from $86.75.
Either of these resistances is strong enough to stop the rise.
Brent oil may fall into $76.47-$77.20 range
A break above $80.40 may lead to a gain into $81.07-$82.80 range.
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