Brent crude oil quotes continue to move within the framework of the growth and bullish channel development. At the time of the forecast publication, the price of Brent crude oil is $72.82 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 potential continuation of the asset’s value growth from the current levels. At the moment, we should expect an attempt to develop a bearish correction and test the support level near the area of $70.05 per barrel. Next, an upward rebound and continued growth of the oil rate to the area above the level of 75.25.
Brent Forecast for March 26, 2025
An additional signal in favor of the rise in quotes and prices for Brent oil will be a test of 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 growth option for oil prices will be a strong fall and a breakout of the level of $70.45 per barrel. This will indicate a breakout of the support area and a continuation of the fall of BRENT quotes to the area above the level of 65.65. A breakout of the resistance area and closing of Brent prices above the level of 73.45 will confirm the growth of quotes and oil prices.
Brent Forecast for March 26, 2025 suggests an attempt to test the support level near the 70.05 area. Further, the continuation of oil growth with a target above the level of 75.25. A test of the trend line on the relative strength indicator will be in favor of the asset’s rise. A fall and a breakout of the level of 70.45 will cancel the option of growth in Brent oil prices. This will indicate a continuation of the fall in quotes to the area below the level of 65.65.
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