LIGHT.CMD/USD 4H Chart: Buying signals

Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)SellNeutralNeutral
Stochastic(5;3;3)SellSellNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate

The Light crude oil prices have been edging higher in an ascending channel pattern since November 8. The LIGHT.CMD/USD exchange rate has surged by 20.40% since the beginning of this month.

Technical indicators suggest buying signals on the 4H, daily and weekly time-frame charts. Most likely, bullish traders could continue to pressure the crude oil prices higher during the following trading sessions.

However, a resistance level at the 47.00 area could provide a barrier for bulls within this week's trading sessions.

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