LIGHT.CMD/USD 4H Chart: Upside potential could prevail

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

The Light crude oil has risen by 7.52% in value against the US Dollar since last week's trading sessions. The light crude oil price hit a three-month high at 59.50 during yesterday's trading session.

All things being equal, the LIGHT.CMD/USD pair will likely continue to gain strength during the following trading sessions. The exchange rate could target the $62.00 mark.

However, a resistance cluster formed by the monthly R2 and the weekly R1 at 60.78 could provide resistance for the pair in the shorter term.

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