BRENT crude oil prices are ending the trading week with a decline near $67.90 per barrel. Moving averages indicate a bearish trend. Prices have broken above the signal lines, indicating pressure from commodity buyers and potential continued growth from current levels. Currently, we should expect an attempt at a bullish correction and a test of the resistance area near $71.75. A downward rebound and a continued decline below $55.65 per barrel should then be considered.
Brent Weekly Forecast February 16 – 20, 2026
An additional signal favoring a decline in oil prices this week will be a test of the resistance line on the relative strength index. The second signal will be a rebound from the upper boundary of the descending channel. A strong rise and a breakout of 76.75 will cancel the downward trend in BRENT crude oil prices during the trading week of February 16-20, 2026. This will indicate a breakout of the resistance area and continued growth above 83.65. Confirmation of the decline should be expected with a breakout of the support area and a close below 64.55, which would indicate a breakout of the lower boundary of the bullish correction channel.
Brent Weekly Forecast February 16 – 20, 2026 suggests an attempt to test the resistance area near 71.75. From there, a rebound and a further decline with a potential target of 55.65 should be expected. An additional signal favoring a decline in oil prices will be a test of the trend line on the relative strength indicator. A strong rise and a breakout of 76.75 will cancel the downward trend. This will indicate a breakout of the resistance area and a continuation of the rise in oil prices with a target above the level of 83.65.
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