BRENT crude oil prices are ending the trading week with gains near $110.95 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 98.55. Then, we should consider an upward rebound and continued growth in oil prices above $145.05 per barrel.
Brent Weekly Forecast March 23 – 27, 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 Triangle pattern. A decline and a break of 87.05 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 continued decline in oil prices below 72.05. Confirmation of the upside is expected with a break of the resistance area and a close above 120.55, which would indicate a break of the upper boundary of the Triangle pattern and the beginning of the pattern with targets above.
Brent Weekly Forecast March 23 – 27, 2026 suggests an attempt to test the support area near 98.55. From there, a rebound and a continued rally with a potential target of 145.05 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 87.05 would invalidate this upward trend. This would indicate a break of the support area and a continued decline with a target below 72.05.
