Brent crude oil prices continue to decline and have broken out of the bullish channel. At the time of this forecast’s publication, the price of Brent crude oil is $65.95 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 price from current levels. Currently, we expect an attempt to rally and test the resistance level near $67.35 per barrel. Subsequently, a downward rebound is expected, followed by a further decline below $62.45.
Brent crude oil Forecast for October 2, 2025
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 lower boundary of the bullish channel. A strong rally and a breakout of $69.25 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 $75.65. A breakout of the support area and a close of Brent prices below $64.65 would confirm a decline in oil prices and quotes.
Brent crude oil Forecast for October 2, 2025 suggests an attempt to test the resistance level near $67.35. Further declines are expected with a target below $62.45. A test of the trend line on the relative strength indicator (RSI) would support a downside scenario. A strong rally and a breakout of $69.25 would cancel the Brent price decline scenario. This would indicate a continued rise in prices above $75.65.
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