Brent oil – Fresh sell-off below $44.17

Brent’s recovery from the recent cyclical low of $41.49 if fails to breach falling channel (lower end/now resistance) and is followed by a break below $44.17 (23.6% of $52.83-$41.49) would open doors for a fresh sell-off towards $41.49 levels.

On the higher side, only a daily close back inside the falling channel would signal further rise to $46.14 (daily 100-MA).