Light.CMD/USD 4H Chart: Breaches dominant channel

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Neutral Sell
Alligator (13; 8; 5) Buy Buy Sell
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The Light.CMD/USD pair has been trading in a junior ascending channel pattern since late December. The pair bounced off its lower boundary of the ascending channel at 42.61 on December 26 and followed by an upside wave.

The light crude oil breached the upper boundary of a dominant descending channel pattern at 53.03 during the morning hours of Wednesday's trading session. 

Given that a breakout had occurred, it is likely that the crude oil price could aim for a traditional weekly resistance level at 57.14 during the following trading sessions.

However, the commodity needs to surpass a resistance cluster formed by the weekly pivot point and the 50-hour simple moving average at 53.05 before reaching the target.

Actual Topics

Subscribe to "Fundamental Analysis" feed

订阅
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台,SWFX和其它相关交易详情,
请致电我们或要求回电。
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台,SWFX和其它相关交易详情,
请致电我们或要求回电。
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.