Brent crude oil prices continue to move within a declining trend and a descending channel. At the time of this forecast’s publication, the price of Brent crude oil is $77.10 per barrel. Moving averages indicate a short-term bearish trend for oil. Prices have broken below the signal lines, indicating downward pressure from sellers of “Black Gold” and a potential continuation of the asset’s decline from current levels. At this point, we should expect an attempt at a bullish correction and a test of the resistance level near $83.25 per barrel. Subsequently, a downward rebound and a continued decline below $58.80 are expected.
Brent crude oil Forecast for June 24, 2026
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 descending channel. A strong rally and a breakout of $92.05 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 $98.55. A breakout of the support area and a close of Brent prices below $72.05 would confirm a decline in oil prices and quotes, indicating a breakout of the lower boundary of the descending channel, signaling a decline by the channel’s width.
Brent crude oil Forecast for June 24, 2026 suggests an attempt to test the resistance level near $83.25. Further declines are expected with a target below $58.80. A test of the trend line on the relative strength indicator (RSI) would support a decline. A strong rally and a breakout of $92.05 would cancel the Brent price decline scenario. This would indicate a continued rise in prices above $98.55.
