Brent oil may retest a support at $91.90 per barrel, a break below which could trigger a drop to $90.24.
A bearish wedge indicates a target around $88.46.
This pattern is a part of a more bearish flag which suggests a much lower target of $82.72.
The support at $90.24 is strengthened by another one at $91.03.
Together, they may temporarily stop the fall and trigger a moderate bounce.
A break below $90.24 could open the way towards $85.59-$88.46 range, while a break above $93.11 may lead to a gain to $94.89.
Brent oil neutral in $93.11-$94.89 range
On the daily chart, oil has broken a support at $93.44.
The break opened the way towards $89.28.
Eventually, oil may slide into a target zone of $82.49 to $83.63, as indicated by two projection analyses on the downtrend from $125.19 and the trend from $100.38.
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