Brent crude oil prices are ending the trading week on an upward note, near the 109.72 USD per barrel mark. Moving averages indicate a bullish trend. Prices have broken upward through the area between the signal lines, signaling pressure from buyers and the potential for continued growth from current levels. In the near term, an attempt at a correction is likely, with a test of the support area near 102.56. Following this, a rebound is expected, with prices potentially rising toward levels above 126.65 USD per barrel.
Brent Weekly Forecast October 26 – 30, 2026
An additional signal favoring an increase in oil 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 October 26–30, 2026, would be invalidated if the price falls and breaks below the 90.55 level. This would indicate a breakdown of the support area and a continued decline in oil prices toward levels below 80.65. Confirmation of an upward move should be sought upon a breakout above the resistance area, with quotes closing above the 114.55 level.
Brent Weekly Forecast October 26 – 30, 2026 suggests an attempt to test the support area near the 102.56 level. From there, a rebound is expected, potentially leading to a continued rise in oil prices with a target of 126.65. An additional signal supporting an increase in oil prices would be a test of the trend line on the Relative Strength Index (RSI). The bullish scenario would be invalidated if the price falls and breaks through the 90.55 area; this would signal a breakdown of the support zone and a further decline in oil prices, with a target below the 80.65 level.
