Brent crude oil prices continue to move as part of the rising trend and the beginning of the “Triangle” pattern. At the time of this forecast’s publication, the price of Brent crude oil is $71.29 per barrel. Moving averages indicate a short-term uptrend in oil prices. 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 bearish correction and a test of the support level near $69.05 per barrel. Subsequently, we expect an upward rebound and continued growth above $76.65.
Brent crude oil Forecast for February 20, 2026
An additional signal in favor of rising Brent crude oil prices and quotes will be a rebound from the support line on the relative strength indicator (RSI). The second signal will be a rebound from the upper boundary of the Triangle pattern. A decline and a breakout of $65.05 per barrel would cancel the upward trend in oil prices. This would indicate a breakout of the support area and a continued decline in BRENT prices below $56.25. A breakout of the resistance area and a close above $73.05 would confirm the upward trend in oil prices and quotes.
Brent crude oil Forecast for February 20, 2026 suggests an attempt to test the support level near $69.05. Further growth is expected with a target above $76.65. A test of the trend line on the relative strength indicator (RSI) would support the upside. A decline and a breakout of $65.05 would cancel the upward trend in Brent oil prices. This would indicate a continued decline in prices below $56.25.
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