Brent crude oil prices continue to decline and have exited the Triangle pattern. At the time of this forecast’s publication, the price of Brent crude oil is $97.30 per barrel. Moving averages indicate a short-term bearish trend for oil. Prices have broken below the signal lines, indicating downward pressure from sellers of “Black Gold” and a potential further decline in the asset’s price from current levels. At this point, we should expect an attempt at a bullish correction and a test of the resistance level near $100.55 per barrel. Subsequently, a downward rebound and a continued decline below $82.45 are expected.
Brent crude oil Forecast for April 9, 2026
An additional signal of a decline in Brent crude oil prices will be a rebound from the resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the Triangle pattern. A strong rise and a breakout of $110.55 per barrel would cancel the downward scenario for oil prices. This would indicate a breakout of the resistance area and a continued rise in BRENT prices above $120.55. A breakout of the support area and a close of Brent prices below $90.05 would confirm a decline in oil prices and quotes.
Brent crude oil Forecast for April 9, 2026 suggests an attempt to test the resistance level near $100.55. Further declines are expected with a target below $82.45. A test of the trend line on the relative strength indicator would support a downside scenario. A strong rise and a breakout of $110.55 would cancel the downward scenario for Brent oil prices. This would indicate a continued rise in prices above $120.55.
