Brent crude oil prices continue to move within a downward trend and a bullish channel. At the time of this forecast’s publication, the price of Brent crude oil is $66.64 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 further decline in the asset’s value from current levels. At this point, we should expect an attempt to continue the decline and a test of the support level near $66.05 per barrel. Subsequently, we expect an upward rebound and continued growth above $69.05.
Brent crude oil Forecast for October 1, 2025
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). A second signal will be a rebound from the lower boundary of the bullish channel. A decline and breakout of $64.55 per barrel would cancel the upward price scenario for oil. This would indicate a breakout of the support area and a continued decline in BRENT prices below $60.05. A breakout of the resistance area and a close above $67.25 would confirm the upward price scenario for oil prices.
Brent crude oil Forecast for October 1, 2025 suggests an attempt to test the support level near $66.05. Further growth is expected with a target above $69.05. A test of the trend line on the relative strength indicator (RSI) would support the upside. A decline and breakout of $64.55 would cancel the upward price scenario for Brent. This would indicate a continued decline in prices below $60.05.
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