BRENT crude oil prices are ending the trading week near $61.40 per barrel. Moving averages indicate a bearish trend. Prices have broken through the signal lines, indicating downward pressure from commodity sellers and potential continued decline from current levels. Currently, we should expect an attempt at a bullish correction and a test of the resistance area near 64.75. A downward rebound and continued decline in oil prices below $52.65 per barrel should be considered.
Brent Weekly Forecast October 20 — 24, 2025
An additional signal of 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 bearish channel. A strong rise and a breakout of 74.45 would cancel out the downward trend in BRENT oil prices during the trading week of October 20-24, 2025. This would indicate a breakout of the resistance area and continued growth above 85.05. Confirmation of the decline should be expected with a breakout of the support area and a close below 59.65.
Brent Weekly Forecast October 20 — 24, 2025 suggests an attempt to test the resistance area near 64.75. From here, we should expect a rebound and an attempt to continue the decline in oil prices, with a potential target at 52.65. A test of the trend line on the relative strength indicator (RSI) would be an additional signal of a decline in oil prices. A strong price increase and a breakout of the 74.45 area would cancel out the downward trend. This would indicate a breakout of the resistance area and continued price growth with a target above 85.05.
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