Brent oil prices are ending the trading week near the $67.02 per barrel area. Moving averages indicate a bearish trend. Prices broke through the signal lines downwards, indicating pressure from commodity sellers and a potential continuation of the decline from current levels. At the moment, we should expect an attempt at a bullish correction and a test of the resistance area near the 70.25 level. Then, we should consider a downward rebound and a continuation of the decline in oil to below the level of $55.65 per barrel.
Brent Weekly Forecast August 18 — 22, 2025
An additional signal in favor of a decline in oil prices this week will be a test of the resistance line on the relative strength indicator. The second signal will be a rebound from the lower border of the bullish channel. A strong rise and a breakout of the 79.25 level will cancel the scenario of a decline in BRENT oil prices during the trading week of August 18 — 22, 2025. This will indicate a breakout of the resistance area and a continuation of oil growth to above the 85.75 level. Confirmation of the decline should be expected with a breakout of the support area and the closing of quotes below the 63.05 level.
Brent Weekly Forecast August 18 — 22, 2025 suggests an attempt to test the resistance area near the 70.25 level. From there, a rebound and an attempt to continue the decline in oil prices should be expected, with a potential target at 55.65. An additional signal in favor of a decline in oil prices will be a test of the trend line on the relative strength indicator. A strong price increase and a breakout of the 79.25 area will cancel the decline scenario. This will indicate a breakout of the resistance area and a continuation of oil price growth with a target above the 85.75 level.
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