Light/USD 4H Chart: Decline is likely to continue - Trade Pattern Ideas - Dukascopy Bank
Tue, 18 Dec 2018 06:30:40 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Sell
Sell
Sell
RSI (14)
Buy
Buy
Buy
Stochastic (5; 3)
Buy
Buy
Buy
Alligator (13; 8; 5)
Sell
Sell
Sell
SAR (0.02; 0.2)
Sell
Sell
Sell
Aggregate
⇗
⇒
⇒
The light crude oil has been depreciating since the beginning of October after the commodity made a U-turn south from the upper boundary of a descending channel pattern at 76.85 on October 3.
A breakout occurred through the lower boundary of a triangle-like formation pattern at 50.59 during the end of yesterday's trading session.
As for the near future, the LIGHT.CMD/USD crude oil price is likely to continue its southern movement during the following trading sessions.
The potential downside targets will be near the bottom border of the channel pattern at 44.90.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
For further information regarding potential cooperation, please call us or make callback request.
To learn more about Dukascopy Bank Binary Options
/ Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Business Introducer and other trading related information, please call us or make callback request.
For further information regarding potential cooperation, please call us or make callback request.