Brent oil prices continue to move within the growth and bullish channels. At the time of publication, the price is $69.72 per barrel. Moving averages indicate a short-term bullish trend for oil. Prices have broken through the area between the signal lines, indicating upward pressure from buyers of “black gold” and the potential for continued growth from current levels. Currently, we can expect an attempt to decline and test the support level near $67.55 per barrel. Prices will then rebound and rise above $74.15.
Brent crude oil Forecast for June 13, 2025
An additional signal favoring growth in Brent oil prices will be a rebound from the support line on the relative strength index (RSI). A second signal will be a rebound from the upper border of the downward channel. A fall below the $66.05 per barrel level will cancel the possibility of oil price growth. This indicates a breakout of the support area and continuation of the decline in Brent prices below the $56.05 level. Growth in oil quotes and prices will be confirmed by a breakout of the resistance area and closing Brent prices above $70.05.
Brent crude oil Forecast for June 13, 2025 assumes an attempt to test the support level near $67.55. Then, oil will continue to rise, targeting the 74.15 level. Testing the trend line on the relative strength indicator will support the asset’s rise. A fall below the 66.05 level will cancel the possibility of growth in the Brent oil price. This would indicate a continued decline in prices below the $56.05 level.
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