Brent oil may test a resistance zone of $76.47 to $76.72 per barrel, a break above could lead to a gain to $77.44. A zigzag is developing. It consists of three waves.

The current wave c may travel to $80 at its full capacity.

In addition to a set of projection levels, oil observes closely two sets of retracements on the falls respectively from $86.75 and $83.33.

Oil settles down on worries over banks, US crude reserve

Support is at $74.41, a break below could trigger a drop to $72.68.