Brent oil may retest a resistance at $77.52 per barrel, a break above which could lead to a gain to $78.39. The rise on Wednesday adds weight to a conviction that a wave c is unfolding towards its 61.8% projection level of $79.26. At its full capacity, this wave may travel to $82.06. A rising trendline remains intact, suggesting a steady uptrend. Support is at $76.45, a break below which could open the way towards $75.23-$75.79 range. A drop to $75.79 would be deep enough to indicate a reversal of the uptrend from $71.39. Brent oil may rise to $77.52 On the daily chart, oil approached a resistance at $77.56 again. A ... (full story)