LIGHT.CMD/USD 4H Chart: Meets 200-day SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellNeutralBuy
SAR(0.02;0.2)BuySellBuy
Aggregate

The Light crude oil prices have depreciated about 652 base points since April 25. The commodity breached the 50-, 100– and 200-hour simple moving averages during this time period.

On the daily time frame chart, the 200-day SMA was providing support for the LIGHT.CMD/USD pair at 60.30.

If this support level holds, the pair could aim for a swing high of 66.67 during the following trading sessions.

However, if the oil prices pass the 200-day SMA, a decline towards the $55 mark could be expected.

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