Brent (ICE) may fall to 77.80 - 78.60

Pivot

80.10

Our preference

Short positions below 80.10 with targets at 78.60 & 77.80 in extension.

Alternative scenario

Above 80.10 look for further upside with 80.65 & 81.40 as targets.

Comment

The RSI has just struck against its neutrality area at 50% and is reversing down.

Supports and resistances

81.40

80.65

80.10

79.54 Last

78.60

77.80

77.00

Number of asterisks represents the strength of support and resistance levels.