LIGHT.CMD/USD bears likely to prevail

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

[ANNOUNCE]The Light crude oil price has edged lower by 6.90% since the beginning of July. The commodity breached the 50– and 200– period simple moving averages during this week's trading sessions.
[/ANNOUNCE]
The crude oil prices could continue to fall during the following trading sessions. The potential target for bearish traders will be near the 69.00 level.

However, a support line formed by the weekly S1 at the 71.25 level might provide support for the BRENT.CMD/USD exchange rate during this week's trading sessions.

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