LIGHT.CMD/USD 4H Chart: Tests 100-hour SMA - Trade Pattern Ideas - Dukascopy Bank
Wed, 19 Jun 2019 06:19:15 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Buy
Alligator(13;8;5)
Buy
Sell
Sell
SAR(0.02;0.2)
Buy
Buy
Sell
Aggregate
⇗
⇒
⇘
The Light crude oil traded in a horizontal line against the US Dollar during last week's trading sessions. However, a breakout occurred through the upper boundary of a descending channel pattern on Tuesday.
Currently, the 100-hour simple moving average is providing resistance for the pair at 54.15.
If this resistance level holds, a decline towards the weekly S1 at 50.57 might be expected during the following trading sessions.
Although, if the LIGHT.CMD/USD passes the 100-hour SMA, the crude oil prices could aim for the 57.00 marks in the short-term.
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