Brent oil may retest a support at $91.90 per barrel, a break below which could trigger a drop to $90.24.

The downtrend from $110.67 remains intact. It may extend into a range of $82.72-$85.59, as suggested by a projection analysis on the fall from $102.41.

Even 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 bounces triggered by the support at $93.11 and $91.90 look weak.

They have little impact on the downtrend. Resistance is at $94.89, a break above which may lead to a gain to $96.32-$97.76 range.

On the daily chart, oil has more or less broken a support at $93.44.

Brent oil may retest support at $91.90

Its sideways move around this level over the past two days is considered as a pullback.

Once the moderate consolidation is over, oil is expected to drop towards $83.63-$89.28 range.