Crude Oil continues its run higher. Technical resistance now in play on the rally. ...Middle East

The price of crude oil has continued its run to the upside and is now up close to $2 or 2.85%. The low for the day reached $69.28. The high has now reached $72.90. THe current price is trading at $72.40. As Adam posted earlier, there was a bomb attack in Iran along with a joint statement from OPEC+ vowing a commitment to unity which helped to shift the bias back higher. Also of note is Libya announced a partial shutdown of its Sharara oilfield on the back of protests. That momentum has continued to run higher. Technically, the rise took the price back above the falling 100-hour MA at $72.42 (the price is trading above and below that level now). The 200-hour MA is above at $73.38 and repr

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