LIGHT.CMD/USD 4H: Could edge higher

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)BuySellBuy
Aggregate

The light crude oil prices have surged by 4.84% since the beginning of this week's trading sessions. The commodity tested the monthly resistance level at 41.98 on Tuesday.

Technical indicators suggest buying signals on the 4-hour time-frame chart. Most likely, buyers could pressure the LIGHT.CMD/USD pair higher during the following trading sessions.

However, the monthly R1 at 41.98 could provide a barrier for bullish traders in the shorter term.

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