Brent oil quotes continue to move within the framework of the development of growth and a descending channel. At the time of publication of the forecast, the price of Brent oil is 68.71 dollars per barrel. Moving averages indicate the presence of a short-term bullish trend for oil. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers of “Black Gold” and a potential continuation of the growth of the asset value from the current levels. At the moment, we should expect an attempt to develop a bearish correction and a test of the support level near the area of 67.75 dollars per barrel. Next, a rebound in prices upwards and continued growth in the oil rate to the area above the level of 71.55.
Brent crude oil Forecast for September 2, 2025
An additional signal in favor of the growth of quotes and prices for Brent oil will be a rebound from the support line on the relative strength indicator (RSI). The second signal will be a rebound from the lower border of the bullish channel. The cancellation of the oil price growth scenario will be a fall and a breakout of the level of 67.25 dollars per barrel. This will indicate a breakout of the support area and a continuation of the fall of BRENT quotes to the area below the level of 62.55. The growth of quotes and oil prices will be confirmed by a breakout of the resistance area and closing of Brent prices above the level of 70.55, which will indicate a breakout of the upper border of the descending correction channel.
Brent crude oil Forecast for September 2, 2025 suggests an attempt to test the support level near the area of 67.75. Further, the continuation of oil growth with a target above the level of 71.55. The test of the trend line on the relative strength indicator will be in favor of the asset growth. The cancellation of the Brent oil price rise scenario will be a fall and a breakout of the level of 67.25. This will indicate a continuation of the decline in quotes to the area below the level of 62.55.
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