Technicals: Brent oil may retest resistance at $75.52
TECHNICALS-Brent oil may retest resistance at $75.52 SINGAPORE, June 26 (Reuters) - Brent crude LCOc1 may retest resistance at $75.52 per barrel, a break above could lead to a gain into the $76.63-$77.75 range.
Five-wave cycle from $98.06 over.
Bounce observes a series of projection levels on the downtrend from $109.69.
Wave 4 peak at $82.14 serves as an aggressive target.
* Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own. His analyses are exclusively published on the Workspace platform - a London Stock Exchange product.
** No information in this analysis should be considered as being business, financial, or legal advice. 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.
(Reporting by Wang Tao; Editing by Sherry Jacob-Phillips)
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