BRENT crude oil prices are ending the trading week rising near $103.65 per barrel. Moving averages indicate a bullish trend. Prices have broken above the signal lines, indicating upward pressure from commodity buyers and potential continued growth from current levels. At this point, we should expect an attempt at a correction and a test of the support area near 86.55. Then, we should consider an upward rebound and continued growth in oil prices above $115.65 per barrel.
Brent Weekly Forecast March 16 – 20, 2026
An additional signal favoring a decline in 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 lower boundary of the bullish channel. A decline and a break of 76.75 would cancel out the upward trend in BRENT oil prices and quotes during the trading week of March 16-20, 2026. This would indicate a break of the support area and a continuation of the decline in oil prices below 65.75. Confirmation of the upside is expected with a break of the resistance area and a close above 106.55.
Brent Weekly Forecast March 16 – 20, 2026 suggests an attempt to test the resistance area near 86.55. From here, we should expect a rebound and an attempt to continue the decline in oil prices, with a potential target at 115.65. An additional signal favoring a decline in oil prices would be a test of the trend line on the relative strength indicator. A strong price increase and a breakout of the 76.75 area would cancel out the downward trend. This would indicate a breakout of the resistance area and a continued rise in oil prices, with a target above 65.75.
