Crude Oil Technical Analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The daily chart for LIGHT.CMD/USD reveals an aggressive bearish trend that has been unfolding over the last few months. After peaking near the 110.000 to 120.000 zone, the market structure shifted into a textbook sequence of lower highs and lower lows.



Moving Average Resistance: Simple Moving Average is sloping downward at a steep angle well above the current price, serving as a dynamic ceiling that bears are actively defending.
  • Bearish Momentum: The MACD line remains pinned below the signal line, and both are diving deeper into negative territory below the zero baseline, supported by an expanding red histogram.
  • Key Levels: After cleanly breaking below the major 80.000 support level which has now flipped into a formidable overhead resistance the price is currently hovering right around 69.860, testing the critical 70.000 floor.
Because the market is heavily extended below its 20 SMA, a temporary pause or minor consolidation could occur at this 70.000 level. However, without a structural shift to break the ongoing sequence of lower highs, a decisive break below this current floor will likely open the door for further downside exploration.
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