| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Buy | Sell | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇘ |
The Light crude oil traded in a horizontal line against the US Dollar during last week's trading sessions. However, a breakout occurred through the upper boundary of a descending channel pattern on Tuesday.
Currently, the 100-hour simple moving average is providing resistance for the pair at 54.15.
If this resistance level holds, a decline towards the weekly S1 at 50.57 might be expected during the following trading sessions.
Although, if the LIGHT.CMD/USD passes the 100-hour SMA, the crude oil prices could aim for the 57.00 marks in the short-term.