Crude oil rises $1.00 to $81.44 ...Middle East

The price of crude oil has risen $1.02 $81.44. Looking at the daily chart, the price is extending back above its 100 day-moving average (blue line on the chart below) at $81.25.The price has moved lower for 3 consecutive days. On Friday the high price extended to $85.90. Yesterday the price low reached $80.30 ($-5.60, or – -6.36%). The 100-day moving average will be the barometer of the pair. Move back below and the 50% midpoint of the move up from the May 4 low comes in at $79.34. On the top side, the broken 38.2 comes in at $83.04. This article was written by Greg Michalowski at www.forexlive.com.

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