Brent crude oil prices are ending the trading week on an upward note, hovering near the 94.73 USD per barrel mark. Moving averages point to a bullish trend. Prices are currently testing the area between the signal lines, indicating pressure from buyers and the potential for further gains from current levels. In the near term, a corrective move toward the support area near 90.05 is possible, followed by a rebound and a continued rise toward levels above 120.05 USD per barrel.
Brent Weekly Forecast November 16 – 20, 2026
An additional signal favoring an increase in Brent crude prices this week is a test of the support line on the Relative Strength Index (RSI). A second signal is a rebound from the lower boundary of the bullish channel. The bullish outlook for Brent crude oil during the week of November 16–20, 2026, would be invalidated if the price falls and breaks below the 78.05 level. This would signal a breakdown of the support area and a continued decline in oil prices toward levels below 63.45. Confirmation of an upward move should be sought through a breakout above the resistance area, with prices closing above the 102.55 level.
Brent Weekly Forecast November 16 – 20, 2026 suggests an attempt to test the support area near the 90.05 level. From there, a rebound is expected, potentially leading to a continued rise in oil prices with a target of 120.05. An additional signal supporting an increase in oil prices would be a test of the trend line on the Relative Strength Index (RSI) indicator. The bullish scenario would be invalidated if the price falls and breaks through the 78.05 area; this would indicate a breakdown of the support zone and a further decline in oil prices, with a target below the 63.45 level.
