Brent crude oil prices continue to move within a developing correction and descending channel. At the time of this forecast’s publication, the price of Brent crude oil is $63.58 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 bullish correction and a test of the resistance level near $63.85 per barrel. Subsequently, a downward rebound and a continued decline below $60.45 are expected.
Brent crude oil Forecast for December 4, 2025
An additional signal of a decline in Brent crude oil prices will be a rebound from the resistance line on the relative strength indicator (RSI). A second signal will be a rebound from the upper boundary of the bearish channel. A strong rally and a breakout of $65.25 per barrel would cancel the oil price decline scenario. This would indicate a breakout of the resistance area and a continued rise in BRENT prices above $72.75. A breakout of the support area and a close of Brent prices below $62.25 would confirm a decline in oil prices and quotes, indicating a breakout of the lower boundary of the bullish correction channel.
Brent crude oil Forecast for December 4, 2025 suggests an attempt to test the resistance level near $63.85. Further decline is expected with a target below $60.45. A test of the trend line on the relative strength indicator (RSI) would support a decline. A strong rally and a breakout of $65.25 would cancel the Brent price decline scenario. This would indicate a continued rise in prices above $72.75.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
