BRENT crude oil prices are ending the trading week rising near $64.75 per barrel. Moving averages indicate a bearish trend. Prices have broken through the signal lines downwards, indicating pressure from commodity sellers and a potential continuation of the decline from current levels. At this point, we should expect an attempt at a bullish correction and a test of the resistance area near $66.95. Then, we should consider a downward rebound and a continued decline in oil prices below $52.45 per barrel.
Brent Weekly Forecast November 17 – 21, 2025
An additional signal favoring a decline in oil prices this week will be a test of the resistance line on the relative strength indicator. A second signal will be a rebound from the upper boundary of the descending channel. A strong rally and a breakout of $73.65 would cancel out the downward trend in BRENT oil prices during the trading week of November 17-21, 2025. This would indicate a breakout of the resistance area and continued growth above $79.55. Confirmation of the decline should be expected with a breakout of the support area and a close below $58.45.
Brent Weekly Forecast November 17 – 21, 2025 suggests an attempt to test the resistance area near 66.95. From there, a rebound and a continued decline in oil prices with a potential target of 52.45 should be 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 73.65 would invalidate this downward scenario. This would indicate a breakout of the resistance area and a continued rise in oil prices with a target above 79.55.
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