Brent Oil outlook

Brent's retreat from daily highs along with bearish 5-SMA and 10-DMA crossover if followed by a break below daily low(also marking a failure to sustain above rising channel & trend line) may result in a sharp sell-off tomorrow and next week.

On the other hand, daily close today back inside rising channel following a spinning top formation and possible golden crossover between 50-SMA and 200-SMA could open doors for a re-test of $48.35 next week.