Brent oil is biased to retest a support at $78.30 per barrel, a break below could open the way towards $76.45-$77.38 range.

Signals are a bit mixed as oil is stuck in a neutral range of $78.30-$80.74.

The consolidation within this range seems to be shaped into a bearish continuation pattern, to be followed by another round of drop.

Brent oil may retest support at $78.30

A break above $80.74 may lead to a gain into $82.35-$83.14 range.