On Friday, Brent crude traded higher and closed the day in the positive territory around 90.70. Today oil traded in a narrow range of 90.35-75, staying close to the November highs. On the hourly chart, Brent is still trading above the moving average line MA (200) H1 (88.10). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and as long as Brent remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.
Probably, the main scenario is continued growth to 91.30 (Sep 8 high).
The alternative scenario is consolidation below MA 200 H1 followed by a fall to 82.75 (Aug 25 low).
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