Crude oil trades to a new session high ...Middle East

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Crude oil trades to a new session high
The price of crude oil has moved to a new session high. That level is now reached $77.89, and in the process has moved above the 100-hour moving average at $77.52. Stay above that moving average would tilt the bias more to the upside at least in the short term.Looking at the chart above, the next major target would be at a ceiling from last week and earlier this week up at $78.52. The swing high from February 14 at $78.76 and the high from January at $79.25 are other targets on further upside momentum.Buyers are making a play. This article was written by Greg Michalowski at www.forexlive.com.

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