BRENT oil quotes end the trading week with growth near the area of 106.59 dollars per barrel. Moving averages indicate a bullish trend. Prices have broken through the area with upward signal lines, which indicates pressure from commodity buyers and a potential continuation of growth from current levels. At the moment, we should expect an attempt to develop a correction and test the support area near the level of 96.55. Then, it is worth considering a rebound upward and continued growth of oil to the area above the level of $141.55 per barrel.
Brent Weekly Forecast April 27 – May 1, 2026
An additional signal in favor of a fall in oil prices this week will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option to increase quotes and prices for BRENT oil in the trading week of April 27 – May 1, 2026 will be a fall and a breakdown of the level of 80.55. This will indicate a breakdown of the support area and a continuation of the fall of oil to the area below the level of 70.55. Confirmation of growth should be expected with a breakdown of the resistance area and closing of quotes above the level of 120.05.
Brent Weekly Forecast April 27 – May 1, 2026 suggests an attempt to test the support area near the level of 96.55. Where can we expect a rebound and an attempt to continue the rise of oil with a potential target at 141.55. An additional signal in favor of rising oil prices will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall in price and a breakdown of the 80.55 area. This will indicate a breakdown of the support area and a continuation of the fall in oil prices with a target below the level of 70.55.
