BRENT crude oil prices are ending the trading week with a strong rise near $90.57 per barrel. Moving averages indicate a bullish trend. Prices have broken above the signal lines, indicating upward pressure from commodity buyers and potential for continued growth from current levels. At this point, we should expect an attempt at a correction and a test of the support area near $80.45. Then, we should consider an upward rebound and continued growth in oil prices above $110.65 per barrel.
Brent Weekly Forecast March 9 – 13, 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 $76.55 would cancel out the upward trend in BRENT oil prices and quotes during the trading week of March 2-6, 2026. This would indicate a break of the support area and a continued decline in oil prices below $65.55. Confirmation of the rise should be expected with a break of the resistance area and a close above $100.00, which would indicate a break of psychological resistance.
Brent Weekly Forecast March 9 – 13, 2026 suggests an attempt to test the resistance area near 80.45. From there, a rebound and a continued decline in oil prices with a potential target of 110.65 are 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 76.55 would invalidate the downward scenario. This would indicate a breakout of the resistance area and a continued rise in oil prices with a target above 65.55.
