LIGHT.CMD/USD 4H Chart: Stranded between SMAs

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

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

The Light crude oil tested the $58 price level during the last week. After hitting the 58.00 area, the crude oil prices began to depreciate.

Currently, the commodity is closer to the bottom border of an ascending channel pattern at 56.05 and could be set for a breakout.

If this breakout occurs, the next target for the LIGHT.CMD/USD pair will be near the 200-hour simple moving average at 54.61. 

However, it is unlikely that this breakout will occur, because the 100-hour SMA at 55.80 could provide support for the pair.

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