Brent (ICE) (U5) Intraday: consolidation in place.

Pivot: 77.70

Our preference: short positions below 77.70 with targets at 76.40 & 75.30 in extension.

Alternative scenario: above 77.70 look for further upside with 78.30 & 79.40 as targets.

Comment: as long as 77.70 is resistance, look for choppy price action with a bearish bias.

Supports and resistances:

79.40

78.30

77.70

76.76 Last

76.40

75.30

74.10