Brent crude oil prices continue to move higher and have broken out of the downward channel. At the time of this forecast’s publication, the price of Brent crude oil is $65.74 per barrel. Moving averages indicate a short-term bullish trend for oil. 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 to continue the decline and test the support level near $65.05 per barrel. Subsequently, we expect an upward rebound and continued growth above $69.25.
Brent crude oil Forecast for October 28, 2025
An additional signal supporting growth 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. The oil price rally would be cancelled if the price falls below $62.05 per barrel. This would indicate a breakout of the support area and a continued decline in BRENT prices below $58.05. A breakout of the resistance area and a close above $67.45 would confirm the rise in oil prices and quotes.
Brent crude oil Forecast for October 28, 2025 suggests an attempt to test the support level near $65.05. Further growth is expected with a target above $69.25. A test of the trend line on the relative strength indicator (RSI) would support the upside. The Brent price rally would be cancelled if the price falls below $62.05. This would indicate a continued decline in prices below $58.05.
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