BRENT crude oil prices are ending the trading week with a decline near $65.89 per barrel. Moving averages indicate a bearish trend. Prices are again testing the signal line area, indicating pressure from commodity sellers and a potential continuation of the decline from current levels. At this point, we should expect an attempt at a bullish correction and a test of the resistance area near $68.45. Then, we should consider a downward rebound and a continued decline in oil prices below $58.45 per barrel.
Brent Weekly Forecast January 26 – 30, 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. A strong rally and a breakout of $72.55 would cancel out the downward trend in BRENT oil prices during the trading week of January 26-30, 2026. This would indicate a breakout of the resistance area and continued growth above $78.65. Confirmation of the decline should be expected with a breakout of the support area and a close below $62.85.
Brent Weekly Forecast January 26 – 30, 2026 suggests an attempt to test the resistance area near 68.45. From there, a rebound and a continued decline in oil prices 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 (RSI). A strong price increase and a breakout of 72.55 would invalidate this downward scenario. This would indicate a breakout of the resistance area and a continued rise in oil prices with a target above 78.65.
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