LIGHT.CMD/USD 4H Chart: Remains near 59.65 - Trade Pattern Ideas - Dukascopy Bank
Wed, 20 Mar 2019 07:04:41 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
Sell
Alligator(13;8;5)
Buy
Buy
Sell
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇘
The LIGHT.CMD/USD pair has appreciated about 4.73% since last week's trading session. A resistance level formed by the weekly R1 at 59.64 stop the surge during the previous session.
Currently, the crude oil price is trading near a resistance cluster formed by the combination of the weekly and the monthly pivot points at 59.65.
If the commodity passes this resistance cluster, the next target for bullish traders will be at the $65 mark.
Although, if the resistance line holds, the could aim for a support level formed by the 50-hour simple moving average at 57.82.
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