Indicator | 4H | 1D | 1W |
---|---|---|---|
MACD(12;26;9) | Buy | Buy | Sell |
RSI(14) | Neutral | Neutral | Neutral |
Stochastic(5;3;3) | Neutral | Neutral | Neutral |
Alligator(13;8;5) | Buy | Buy | Sell |
SAR(0.02;0.2) | Buy | Buy | Sell |
Aggregate | ⇗ | ⇗ | ⇘ |
After the Light crude oil tested the lower boundary of an ascending channel pattern at 54.05, the commodity made a U-turn north. As a result, the pair appreciated about 6.8% in value.
The LIGHT.CMD/USD pair tested a resistance cluster formed by the weekly pivot point and the monthly R1 at 57.06 during Tuesday's trading session. From a theoretical point of view, the pair might make a brief retracement towards the 200– period SMA at 54.74 within the following trading sessions.
If the 200– period simple moving average holds, the Light crude oil price will make an upside reversal before the end of next week's trading sessions.