BRENT crude oil prices are ending the trading week with a decline near $67.69 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 expect an attempt at a bullish correction and a test of the resistance area near $70.65. A downward rebound and a continued decline below $58.45 per barrel should then be considered.
Brent Weekly Forecast February 9 – 13, 2026
An additional signal of a decline in oil prices this week will be a test of the resistance line on the relative strength indicator (RSI). 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 9-13, 2026, would be cancelled by a strong rise and a breakout of 76.55. This would indicate a breakout of the resistance area and continued price growth above 85.05. Confirmation of the decline should be expected with a breakout of the support area and a close below 62.65, which would indicate a breakout of the lower boundary of the bullish correction channel.
Brent Weekly Forecast February 9 – 13, 2026 suggests an attempt to test the resistance area near 70.65. From there, a rebound and a continued decline with a potential target of 58.45 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 by a strong rise and a breakout of 76.55. This would indicate a breakout of the resistance area and continued price growth with a target above 85.05.
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