Brent oil –Sell-off to sub $45 levels likely

Brent’s failure at daily 50-MA level yesterday followed by a fall back to near opening price, thus forming a gravestone Doji suggests the consolidation pattern may have ended and the retreat from September 8 high of $50.10 has resumed.

Price could test sub $45.00 levels today.

Only a daily close above 50-DMA would signal bearish invalidation.