Cypher pattern on Brent daily chart can be viewed here -
Hourly chart also shows head and shoulder formation is under progress with neckline support at $48.60.
Brent’s break below daily low of $49.89 followed by a violation at $49.53 would strengthen the case for possible. drop to neckline support at $48.60 and also add credence to Cypher pattern.
Bearish invalidation is seen only in case of a day end closing above $50.83.