On a Daily time frame Brent has formed a Flag and Pole type of pattern, a breakout on either side will be an opportunity to enter in the direction of the trend. Flag and Pole is a continuation pattern breakout on the downside will be an continuation on the downside.

The Short (21) EMA has crossed Fast (50) EMA indicating a negative trend with price trading below the both the EMA indicates strength on the downside. 

Momentum Indicator RSI(14) is trading at 45 marks.

Hence based on above observation one can take position as per breakout

Flag And Pole Pattern

May 25 2023