| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Sell | Sell |
| Stochastic(5;3;3) | Sell | Neutral | Sell |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇒ |
The Light crude oil price bounced off a support level formed by the 50– period simple moving average at 76.00 on October 7. As a result, the commodity has surged by 8.37% during this period.
The US crude oil is currently trading near a resistance level at 81.81 and could be set for a breakout.
If the breakout occurs, a surge towards the 85.00 level could be expected during next week's trading sessions.
However, if the resistance level holds, the LIGHT.CMD/USD pair could make a brief pullback towards the 50– period SMA at 79.44 next week.