| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Neutral | Buy | Buy |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇒ | ⇗ | ⇗ |
The Light crude oil price surged by 5.70% during last week's trading sessions. The commodity tested the 46.00 level on December 4. The pair breached the lower boundary of an ascending channel pattern during yesterday's trading sessions.
Given that a breakout has occurred, bearish traders could pressure the LIGHT.CMD/USD pair lower during the following trading sessions. The potential target for bears would be at the 43.00 level.
However, a support level formed by the 50– period simple moving average at 45.38 could provide support for the crude oil price within this week's trading sessions.