BRENT crude oil prices are ending the trading week with a decline near $71.94 per barrel. Moving averages indicate a bullish trend. Prices have broken through the signal lines downwards, 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 correction and a test of the support area near $68.65. Then, we should consider an upward rebound and continued growth in oil prices above $92.05 per barrel.
Brent Weekly Forecast July 6 – 10, 2026
An additional signal in favor of rising oil prices this week will be a test of the support line on the relative strength indicator. A second signal will be a rebound from the upper boundary of the bearish channel. A decline and a break of $65.05 would cancel out the upward trend in BRENT oil prices and quotes during the trading week of July 6-10, 2026. This would indicate a break of the support area and a continued decline in oil prices below $45.05. Confirmation of the rise should be expected with a break of the resistance area and a close above $77.05, which would indicate a break of the upper boundary of the outgoing correction channel. The Brent Weekly Forecast July 6 – 10, 2026 suggests an attempt to test the support area near 68.65. From there, a rebound and a continued rally with a potential target of 92.05 should be expected. An additional signal favoring oil price growth would be a test of the trend line on the relative strength indicator (RSI). A price decline and a break of 65.05 would invalidate this upward trend. This would indicate a break of the support area and a continued decline with a target below 45.05.
