LIGHT.CMD/USD 4H Chart: Reaches 2019 high - Trade Pattern Ideas - Dukascopy Bank
Wed, 03 Apr 2019 06:25:19 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Sell
RSI(14)
Sell
Sell
Neutral
Stochastic(5;3;3)
Sell
Sell
Neutral
Alligator(13;8;5)
Buy
Buy
Neutral
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇒
⇒
⇒
The Light crude oil prices hit 2019 high level on Tuesday. The surge was attributed to the US sanctions against Iran and Venezuela crude oil exports and the OPEC supply cuts.
As for this week's trading sessions, it is likely that the LIGHT.CMD/USD pair retrace down towards a support line formed by the 50-hour simple moving average at the 60.03 mark.
If the support line as mentioned above holds, the pair will continue trading in the medium-term ascending channel pattern during the following trading sessions.
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