Brent oil quotes continue to move within the development of growth and bullish channel. At the time of publication of the forecast, the price of Brent oil is 66.61 dollars per barrel. Moving averages indicate the presence of a short-term bullish trend in oil. Prices broke through the area between the signal lines upwards, which indicates the pressure from the buyers of “Black Gold” and potential continuation of the growth of the asset value already from the current levels. At the moment, we should expect an attempt to develop a decline and test the support level near the area of 65.45 dollars per barrel. Further, a rebound in prices upward and the continuation of the oil rate rise to the area above the level of 71.45.
Brent crude oil Forecast for June 11, 2025
An additional signal in favor of the growth of quotations and prices of Brent oil 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 descending channel. Cancellation of the variant of oil prices growth will be a fall and breakdown of the level of 64.75 dollars per barrel. This will indicate the breakdown of the support area and the continuation of BRENT quotations fall to the area below the level of 56.85. Confirmation of the growth of quotes and oil prices will be the breakdown of the resistance area and the closing of Brent prices above the level of 69.95.
Brent crude oil Forecast for June 11, 2025 suggests an attempt to test the support level near the area of 65.45. Further, the continuation of oil growth with a target above the level of 71.45. A test of the trend line on the relative strength indicator will be in favor of the rise of the asset. Cancellation of the option of growth of Brent oil price will be a fall and breakdown of the level of 64.75. This will indicate the continuation of quotes decline to the area below the level of 56.85.
