The prices of Brent crude oil continue to move within the framework of an upward trend and the formation of a “Triangle” pattern. At the time of the forecast, the price of Brent crude oil is at $68.38 per barrel. Moving averages indicate the presence of a short-term bullish trend for oil. Prices have broken through the area between the signal lines upward, indicating pressure from buyers of “Black Gold” and the potential continuation of the asset’s growth from current levels. At this moment, it is expected to see an attempt to develop a bullish correction and test the support area near the level of $66.05. Following that, a rebound upward and the continuation of the oil price growth to the area above $74.25.
Brent crude oil Forecast for February 12, 2026
Additional signal supporting the price rise of Brent crude oil is the rebound from the support line on the RSI indicator. The second signal will be a rebound from the lower boundary of the bullish channel. The rejection of the bullish scenario will be a decline and a break of the level of $64.25. This will indicate a breakout of the support area and the continuation of the decline in Brent crude oil prices to the area below $55.65. The confirmation of the price rise will be a breakout of the resistance area and the closure of prices above the level of $71.55, indicating a breakout of the upper boundary of the “Triangle” pattern and the beginning of the pattern’s realization with upward targets.
Brent crude oil Forecast for February 12, 2026 assumes an attempt to test the support level near the area of $66.05. Following that, the continuation of the oil price growth with a target above the level of $74.25. In favor of the asset’s rise will be the test of the trend line on the RSI indicator. The rejection of the price rise scenario will be a decline and a break of the level of $64.25. This will indicate the continuation of the decline in the area below $55.65.
