BRENT crude oil prices are ending the trading week with a decline near $61.19 per barrel. Moving averages indicate a bearish trend. Prices have broken through the signal lines below this area, indicating downward pressure from commodity sellers and a potential continuation of the decline from current levels. Currently, we should expect an attempt at a bullish correction and a test of the resistance area near $63.85. A downward rebound and a continued decline below $54.05 per barrel should then be considered.
Brent Weekly Forecast January 5 – 9, 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 January 5-9, 2026, would be cancelled by a strong rise and a breakout of 67.55. This would indicate a breakout of the resistance area and continued price growth above 76.55. A decline should be confirmed with a breakout of the support area and a close below 57.55.
Brent Weekly Forecast January 5 – 9, 2026 suggests an attempt to test the resistance area near 63.85. From there, a rebound and a continued decline with a potential target of 54.05 should be expected. A test of the trend line on the relative strength indicator (RSI) would be an additional signal of a decline in oil prices. The decline would be cancelled by a strong rise and a breakout of 67.55. This would indicate a breakout of the resistance area and continued price growth with a target above 76.55.
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