Brent oil quotes continue to move within the bearish correction and have left the bullish channel. At the time of publication, the price of Brent oil is $68.26 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 should expect an attempt at a bullish correction and a test of the resistance level near the $69.05 per barrel area. Further, prices will rebound downward and continue to fall below the $61.65 level.
Brent crude oil Forecast for June 27, 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 $74.35 per barrel level will cancel the option of a decline 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 level of $82.55. Confirmation of the fall in oil quotes and prices will be a breakout of the support area and the closing of Brent prices below the level of $66.05.
Brent crude oil Forecast for June 27, 2025 suggests an attempt to test the resistance level near the 69.05 area. Further, oil will continue to fall with a target below the 61.65 level. 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 74.35 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 82.55 level.
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