Oil futures of the BRENT grade are concluding the trading week near the $63.51 per barrel area. Moving averages indicate a bearish trend. Prices have pierced through the signal lines downwards, indicating pressure from raw material sellers and potential continuation of the drop already from current levels. At this point, it’s advisable to anticipate an attempt at developing a bullish correction and testing the resistance area close to the level of $64.75. Then, consider a downward bounce and continued decline in oil prices into the region below $56.45 per barrel.
Brent Weekly Forecast May 26 — 30, 2025
Additional signals pointing to a decrease in oil prices for the current week include testing the resistance line on the Relative Strength Index (RSI). The second signal will be bouncing off the upper border of the “Triangle” model. Confirmation that the option of falling prices and Brent crude oil prices does not occur during the trading week of May 26 — 30, 2025,, is a strong rise and penetration through the level of 70.05. This will indicate a break in the resistance area and continued growth of oil into the region above the level of 76.65. Confirmation for a decline should be expected with breaking the support zone and closing prices below the level of 60.05, indicating a breakthrough the lower boundary of the “Triangle” model and the beginning of implementing patterns with targets downwards.
Brent Weekly Forecast May 26 — 30, 2025anticipates a test of the resistance area near the level of 64.75. From which one should expect an upturn and an attempt at continuing the decline in oil prices with a potential target at the level of 56.45. An additional signal for lower oil prices would be testing the trend line on the Relative Strength Index (RSI). Cancellation of the drop option will occur with a strong price increase and penetration of the area 70.05, which indicates that the resistance zone has been breached, and the price of oil is expected to continue rising towards a level above 76.65.
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