Brent crude oil prices are ending the trading week on an upward note, near the 97.14 USD per barrel mark. Moving averages point to a bullish trend. Prices are currently re-testing the area between the signal lines, indicating pressure from buyers and the potential for further gains from current levels. In the near term, an attempt at a correction—testing the support area near 90.05—is likely. Following this, one should look for an upward rebound and a continuation of the rally toward levels above 125.65 USD per barrel.
Brent Weekly Forecast November 9 – 13, 2026
An additional signal favoring an increase in Brent crude prices this week would be a test of the support line on the Relative Strength Index (RSI). A second signal would be a rebound from the lower boundary of the bullish channel. The bullish outlook for Brent crude oil during the week of November 9–13, 2026, would be invalidated if the price falls and breaks below the 80.05 level. This would indicate a breakdown of the support area and a continued decline in oil prices toward levels below 65.05. Confirmation of an upward move should be sought upon a breakout above the resistance area, with quotes closing above the 105.05 level.
Brent Weekly Forecast November 9 – 13, 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 at 125.65. 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 80.05 area. This would signal a breakdown of the support zone and a further decline in oil prices, with a target below the 65.05 level.
