Brent oil prices continue to move within the framework of a downward trend and a descending channel. At the time of publication of the forecast, the price of Brent oil is $67.37 per barrel. Moving averages indicate a short-term bearish trend for oil. Prices have broken through the area between the signal lines downwards, indicating pressure from sellers of “black gold” and a potential continuation of the decline in the asset’s value from current levels. At the moment, we can expect an attempt at a bullish correction and a test of the resistance level near the $69.45 per barrel area. Further, prices will rebound downward and continue to fall below the $60.45 level.
Brent crude oil Forecast for August 15, 2025
An additional signal in favor of a decline in Brent oil quotes and prices will be a rebound from the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the bearish channel. A strong rise and a breakout of the $71.05 per barrel level will cancel the option of a decline in oil prices. This will indicate a breakout of the resistance area and a continuation of the growth of BRENT quotes to the area above the 75.35 level. Confirmation of the decline in oil prices and quotations will be a breakout of the support area and the closing of Brent prices below the level of $63.85.
Brent crude oil Forecast for August 15, 2025 suggests an attempt to test the resistance level near the area of $69.45. Further, oil will continue to fall with a target below the level of 60.45. A test of the trend line on the relative strength indicator will support the decline in the asset. A strong rise and a breakout of the level of 69.05 will cancel the option of a fall in Brent oil prices. This will indicate a continuation of the growth of quotes to the area above the level of 75.35.
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