| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Buy | Buy | Buy |
| Stochastic(5;3;3) | Buy | Buy | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇒ | ⇒ | ⇒ |
Light crude oil prices have plunged significantly since the beginning of March. The pair has declined by 46.01% in value during the past two weeks trading sessions.
Currently, the exchange rate is trading near the lower boundary of a descending channel pattern at 27.08.
Given that the price war between the Saudi Arabian and Russia have escalated, the commodity will most likely continue to fall.
However, the LIGHT.CMD/USD pair could slide up towards the 50– period simple moving average at 32.92 in the short-term.