As of Aug 24, 01:07 UTC, Brent Oil traded near 93.4000 following the previous daily session that concluded on Aug 23 with a closing price of 93.4000 after opening at 93.6800. The instrument recorded a previous session range of 0.4000 between its high of 93.8000 and low of 93.4000. The computed technical posture reads strongly constructive with a summary score of 100, establishing a bullish classification for the current assessment.
The price sits above multiple moving averages, trading 6.20% higher than the SMA(20) at 87.9440 and 11.32% above the SMA(50) which stands at 83.9014. The distance expands further to 13.10% relative to the SMA(200) recorded at 82.5819. Each moving average comparison produces a constructive reading, and the SMA(20) remains positioned above the SMA(50), which in turn rests above the SMA(200).
Momentum continues to register elevated levels across the tracked gauges. The RSI(14) reads 85.4, delivering a constructive reading alongside the MACD(12,26,9) system. The MACD(12,26,9) line holds at 2.0100 while the corresponding signal sits at 1.2922, yielding a positive configuration that reinforces the constructive label. Every individual indicator row returns a constructive evaluation, confirming alignment across the measured timeframe.
Reference points derived from the prior daily bar establish clear boundaries around the current trading area. Support rests at 93.2667, calculated as the floor-trader support level using two times the pivot minus the previous session high. Resistance appears at 93.6667, marked by the floor-trader resistance level derived from two times the pivot minus the previous session low. The midpoint pivot registers at 93.5333, representing the classic floor pivot based on the average of the previous session high, low, and close.