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Brent on the slide again

Earlier today, the price of February Brent crude absolutely nailed a noted support level at  $77.67. The low was set at $77.66 and as mentioned before and after that, the price then extended higher to touch $79. Well, since then it has been falling back once more and just now it took out that $77.67 level and traded to just above $77.50. The next support of any real note from here on remains the previously touted support at $75.70. Now that is not to say it will get down there, but the way this baby swings around, it would not surprise me one bit if it did. Brent is just now struggling for all the same reasons as mentioned here already. It is currently trading at $77.65
 

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