Brent oil quotes continue to move within the development of a fall and a descending channel. At the time of publication of the forecast, the price of Brent oil is 66.35 dollars per barrel. Moving averages indicate the presence of a short-term bearish trend for oil. Prices have broken through the area between the signal lines downwards, which indicates pressure from sellers of “Black Gold” and a potential continuation of the fall in the value of the asset from the current levels. At the moment, we should expect an attempt to develop a fall and a test of the support level near the area of 63.55 dollars per barrel. Next, a rebound in prices upward and continued growth of the oil rate to the area above the level of 68.75.
Brent crude oil Forecast for August 19, 2025
An additional signal in favor of the growth of Brent oil quotes and prices will be a rebound from the support line on the relative strength indicator (RSI). The second signal will be a rebound from the lower border of the bullish channel. The cancellation of the oil price growth scenario will be a decline and a breakout of the level of 62.05 dollars per barrel. This will indicate a breakout of the support area and a continuation of the fall of BRENT quotes to the area below the level of 56.85. The growth of quotes and oil prices will be confirmed by a breakout of the resistance area and the closing of Brent prices above the level of 69.05.
Brent crude oil Forecast for August 19, 2025 suggests an attempt to test the support level near the area of 63.55. Further, the continuation of oil growth with a target above the level of 68.75. The test of the trend line on the relative strength indicator will be in favor of the asset growth. The cancellation of the Brent oil price rise scenario will be a fall and a breakout of the level of 62.05. This will indicate a continuation of the decline in quotes to the area below the level of 56.85.
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