BRENT crude oil prices are ending the trading week with a strong rise near $71.21 per barrel. Moving averages indicate a bearish trend. Prices have broken above the signal lines, indicating upward pressure from buyers and potential continued growth from current levels. Currently, we should expect an attempt to extend the rally and test the resistance area near $72.55. A downward rebound and a continued decline below $59.95 per barrel should then be considered.
Brent Weekly Forecast February 23 – 27, 2026
An additional signal favoring a decline in oil prices this week will be a test of the resistance line on the relative strength indicator. A second signal will be a rebound from the upper boundary of the descending channel. The decline in BRENT crude oil prices during the trading week of February 23-27, 2026, would be cancelled if the price were to rise sharply and break above 76.55. This would indicate a breakout of the resistance area and continued price growth above 84.55. Confirmation of the decline should be expected with a breakout of the support area and a close below 64.65, which would indicate a breakout of the lower boundary of the bullish correction channel.
Brent Weekly Forecast February 23 – 27, 2026 suggests an attempt to test the resistance area near 72.55. From there, a rebound and a continued decline with a potential target of 59.95 should be expected. An additional signal favoring a decline in oil prices would be a test of the trend line on the relative strength indicator. The decline would be cancelled if the price were to rise sharply and break above 76.55. This would indicate a breakout of the resistance area and continued price growth with a target above 84.55.
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