Brent oil quotes continue to move within the bearish correction and have left the bullish channel. At the time of publication of the forecast, the price of Brent oil is $68.32 per barrel. Moving averages indicate a short-term bearish trend for oil. Prices have broken through the area between the signal lines downwards, indicating pressure from sellers of “black gold” and a potential continuation of the asset’s decline from current levels. At the moment, we can expect an attempt at a bullish correction and a test of the resistance level near the $70.55 per barrel area. Further, prices will rebound downward and continue to fall below the $61.85 level.
Brent crude oil Forecast for June 26, 2025
An additional signal in favor of a decline in Brent oil quotes and prices will be a rebound from the resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. A strong rise and a breakout of the $74.45 per barrel level will cancel the option of a fall in oil prices. This will indicate a breakout of the resistance area and a continuation of the growth of BRENT quotes to an area above the 82.65 level. Confirmation of the decline in oil prices and quotations will be a breakout of the support area and the closing of Brent prices below the level of $66.45.
Brent crude oil Forecast for June 26, 2025 assumes an attempt to test the resistance level near the area of $70.55. Further, the decline in oil will continue with a target below the level of $61.85. A test of the trend line on the relative strength indicator will support the decline in the asset. A strong rise and a breakout of the 74.45 level will cancel the scenario of a decline in Brent oil prices. This will indicate a continuation of the rise in quotes to the area above the 82.65 level.
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