Brent oil looks neutral in a range of $84 to $85.59 per barrel, and an escape could suggest a direction. A triangle is taking shape, which may become a bullish continuation pattern if oil breaks $85.59, or a top pattern if oil falls below $83.66.
A drop below the lower trendline support of $84 could be the very early sign of a top pattern.
The bias seems to be towards the downside, as oil is approaching this level.
A break above $85.59, which looks unlikely, may lead to a gain into $86.32-$86.92 range.
On the daily chart, the rise stopped below a resistance at $86.54.
Brent oil may retest resistance zone of $86.32-$86.92
Chances are high that oil may fill a common gap forming on Monday.
It is a part of a consolidation that could somehow mirror the sideways move in a range of $80.72 to $86.54 forming between Feb. 6 and March 10.
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