| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Sell |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇒ | ⇗ | ⇗ |
The Light crude oil price has surged by 9.27% since April 26. The commodity hit a two-month high at 66.61 during this week's trading sessions.
Technical indicators suggest buying signals on the daily and weekly time-frame charts. Most likely, bullish traders could continue to edge higher during the following trading sessions. A breakout through the upper boundary of an ascending channel pattern is likely to occur.
However, the weekly resistance level at 65.71 could provide resistance for the crude oil price in the shorter term.