Brent crude oil prices continue to move within a growing and descending channel. At the time of this forecast’s publication, the price of Brent crude oil is $107.14 per barrel. Moving averages indicate a short-term bearish trend for oil. Prices have broken above the signal lines, indicating upward pressure from buyers of “Black Gold” and potential continued price growth from current levels. Currently, we expect an attempt at a bearish correction and a test of the support level near $102.05 per barrel. Subsequently, we expect an upward rebound and continued growth above $124.05.
Brent crude oil Forecast for April 28, 2026
An additional signal favoring an increase in Brent crude oil prices and quotes will be a rebound from the support line on the relative strength indicator (RSI). The second signal will be a rebound from the upper boundary of the descending channel. A decline and a break of $95.05 per barrel will cancel the upward trend in oil prices. This will indicate a break of the support area and a continued decline in BRENT prices below $75.55. A break of the resistance area and a close above $10.55 will confirm the upward trend in oil prices and prices, indicating a break of the upper boundary of the descending channel.
Brent crude oil Forecast for April 28, 2026 suggests an attempt to test the support level near $102.05. Further growth is expected with a target above $124.05. A test of the trend line on the relative strength indicator (RSI) will support the upside. A decline and a break of $95.05 will cancel the upward trend in Brent oil prices. This will indicate a continued decline in prices below $75.55.
