Brent crude oil prices continue to move within a developing correction and bullish channel. Potential for a Triangle pattern to form remains. At the time of this forecast’s publication, the price of Brent crude oil is $108.80 per barrel. Moving averages indicate a short-term uptrend in oil prices. Prices have broken above the signal lines, indicating upward pressure from buyers of “Black Gold” and potential continued price growth from current levels. Currently, we expect an attempt at a correction and a test of support near $100.45 per barrel. Subsequently, we expect an upward rebound and continued growth above $132.55.
Brent crude oil Forecast for March 20, 2026
An additional signal favoring an increase in Brent crude oil prices and quotes will be a rebound from the support line on the relative strength indicator (RSI). The second signal will be a rebound from the lower boundary of the bullish channel. A decline and a breakout of $90.05 per barrel will cancel the upward trend in oil prices. This will indicate a breakout of the support area and a continued decline in BRENT prices below $75.65. A breakout of the resistance area and a close of Brent prices above $122.05, the upper boundary of the Triangle pattern, and the beginning of the pattern with targets above will confirm the upward trend in oil prices and prices.
Brent crude oil Forecast for March 20, 2026 suggests an attempt to test the support level near $100.45. Further growth is expected with a target above $132.55. A test of the trend line on the relative strength indicator (RSI) will support the upside. A decline and a breakout of $90.05 will cancel the upward trend in Brent oil prices. This will indicate a continued decline in prices below $75.65.
