In the H4 chart, after rebounding from 85.85, Brent is still falling towards 79.00 and may later start a new correction to test 82.85 from below. After that, the asset may form a new descending structure to reach 77.55 and then start another growth with the target at 90.00. From the technical point of view, this scenario is confirmed by MACD Oscillator: its signal line is moving below 0 within the histogram area, which implies a descending wave on the price chart. After this wave is over, the line is expected to grow towards 0.

As we can see in the H1 chart, after forming a new consolidation range around 82.82, Brent has expanded it to the downside. In fact, this range should be considered as a downside continuation pattern. Possibly, the asset may reach 79.63 and then start a new correction to return to 82.82. Later, the market may resume trading downwards with the short-term target at 79.00. From the technical point of view, this idea is confirmed by the Stochastic Oscillator: its signal line is moving below 20, which implies a further downtrend on the price chart. After the price reaches the above-mentioned short-term target, the line may resume growing towards 50.