Technical indicators continue to point to the persistence of the downtrend: the Bollinger Bands are directed lower, the MACD is increasing in negative territory, and the Stochastic oscillator is approaching oversold levels. This does not rule out a corrective rebound, although its potential appears limited.

Support and Resistance Levels

Resistance levels: 65.62, 71.87, 75.00.

Support levels: 59.37, 56.25, 53.12.

Brent Crude Oil chart

Trading Scenarios and Brent Crude Oil Forecast

Short positions should be considered below the 59.37 level with targets at 56.25 and 53.12, and a stop-loss at 61.70. Time horizon: 5–7 days.

Long positions can be opened above the 65.62 level with targets at 71.87 and 75.00, and a stop-loss at 62.80.

Scenario

Timeframe Weekly
Recommendation SELL STOP
Entry point 59.35
Take Profit 56.25, 53.12
Stop Loss 61.70
Key levels 53.12, 56.25, 59.37, 65.62, 71.87, 75.00

Alternative Scenario

Recommendation BUY STOP
Entry point 65.65
Take Profit 71.87, 75.00
Stop Loss 62.80
Key levels 53.12, 56.25, 59.37, 65.62, 71.87, 75.00