| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Neutral | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇘ |
The Light crude oil prices have risen by 12.05% in value against the US Dollar since August 7. The pair is gradually edging higher in a junior ascending channel pattern.
Currently, the commodity is stranded between SMAs. The 200-period simple moving average is providing resistance for the pair at 56.46, while the 100– hour SMA is providing support at 55.25.
Everything being equal, the LIGHT.CMD/USD will likely continue to trade in the junior ascending channel. Bulls could target the weekly R2 at 59.21 in the nearest future.
Though, the pair needs to surpass the 200-period SMA before reaching the expected forecast.