| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Neutral |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇒ |
The light crude oil prices have surged by 6.36% since last week's trading sessions. The commodity breached the weekly and the monthly PPs at 38.93 during this period.
Technical indicators suggest buying signals on both the smaller and the larger time-frame charts. Therefore, bullish traders could continue to pressure the crude oil higher during the following trading sessions.
However, given that the BRENT.CMD/USD pair is currently trading near the bottom border of an ascending channel pattern, a breakout could occur within this week's sessions.