LIGHT.CMD/USD 4H Chart: Set for breakout - Trade Pattern Ideas - Dukascopy Bank
Wed, 13 Mar 2019 07:22:11 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Sell
Neutral
Alligator(13;8;5)
Buy
Buy
Sell
SAR(0.02;0.2)
Buy
Sell
Buy
Aggregate
⇗
⇒
⇒
The Light crude oil appreciated about 5.53% in values against the US Dollar during the past week. The pair bounced off a support level formed by the weekly S1 at 54.63 on March 8.
The LIGHT.CMD/USD pair is trading near a strong resistance level at the 57.84 region.
If the commodity passes the resistance level, the next targets will be near the upper boundary of an ascending channel pattern at 62.02.
However, if the resistance line holds, a decline towards a support cluster at 56.53 is likely to occur.
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