| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Buy | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇘ | ⇒ |
The Light crude oil has depreciated about 9.00% in value against the US Dollar since July 31. A breakout occurred through the lower boundary of an ascending channel pattern on August 1.
Currently, the LIGHT.CMD/USD pair is trading near the bottom border of a descending channel at 53.54.
If the pair breaks the descending pattern, bearish traders could drive the commodity towards the $51.70 within this week's trading sessions.
However, if the support line, formed by the lower band of the descending channel holds, a surge towards the 56.57 could be expected in the short term.