SINGAPORE: Brent oil may test a resistance at $75.36 per barrel, a break above could lead to a gain to $76.13.

The contract failed a few times to break a support at $73.51, around which a bottom has formed.

The formation of this pattern suggests a completion of the drop from $76.13. Further suggestion is given by the five-wave structure of the drop.

Immediate support is at $74.12, a break below could cause a fall into the range of $72.89 to $73.51.

Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.