BRENT crude oil prices are ending the trading week with gains near $87.72 per barrel. Moving averages indicate a bullish trend. Prices are again testing the signal line area, indicating pressure from crude buyers and potential continued growth from current levels. Currently, we expect an attempt at a correction and a test of the support area near $75.95. Then, we should consider an upward rebound and continued growth above $102.55 per barrel.
Brent Weekly Forecast August 31 – September 4, 2026
An additional signal for oil prices to rise this week will be a test of the support line on the relative strength indicator. A second signal will be a rebound from the lower boundary of the bullish channel. The upside scenario for BRENT crude oil prices and quotes during the trading week of August 31 – September 4, 2026, would be cancelled if the price falls and breaks below 64.55. This would indicate a breakout of the support area and a continued decline in oil prices below 55.65. Confirmation of the upside is expected with a breakout of the resistance area and a close above 93.65, which would indicate a breakout of the upper boundary of the outgoing correction channel.
Brent Weekly Forecast August 31 – September 4, 2026 suggests an attempt to test the support area near 75.95. From there, a rebound and a continued rise with a potential target of 102.55 should be expected. An additional signal in favor of oil price growth would be a test of the trend line on the relative strength indicator. The upside scenario would be cancelled if the price falls and breaks below 64.55. This would indicate a breakout of the support area and a continued decline in oil prices with a target below 55.65.
