Brent futures are in a consolidation period in the form of an ascending triangle. Technically a bullish trend, this would increase the probability of a breakout to the upside in the direction of the trend.
A close above USD 52.74 would suggest upside consolidation. A close below USD 51.81 should have market longs looking to tighten risk.
For those that follow Elliot wave, this would appear to be the beginning of wave 5 of wave 3. We conclude this as the current middle wave is the shortest, and in Elliot terms this is not possible, suggesting it is a wave within a wave.