Crude oil higher on the day. Trades within a swing area. ...Middle East

The price of crude oil is trading within a range. The low for the day came in at $80.71. The high is at $82.20. The current price is trading at $81.98Looking at the daily chart, there is a swing area between $80.90 and $83.40 (see yellow area and red numbered circles). Within that is the 100-day moving average at $81.72 and the 38.2% retracement at $83.00. Although the low price today moved below the low of the swing area, momentum could not be sustained..The last 5 trading days have seen a high of $83.56 the low price came in at $80.15. That is outside of the aforementioned swing area, but buyers could not take advantage of the move higher and sellers could not take advantage of the move lo

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