LIGHT.CMD/USD 4H Chart: Could edge lower - Trade Pattern Ideas - Dukascopy Bank
Wed, 17 Jul 2019 05:37:13 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Sell
RSI(14)
Buy
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Sell
Alligator(13;8;5)
Sell
Buy
Sell
SAR(0.02;0.2)
Sell
Buy
Buy
Aggregate
⇘
⇗
⇘
The Light crude oil prices have depreciated about 6.23% in value since last week's trading sessions. The commodity breached both the 50– and 100-hour SMAs at 58.94 during yesterday's session.
Most likely, the LIGHT.CMD/USD pair could continue its southern movement in the coming days. The pair might aim for the 61.80% Fibonacci retracement level during next week's trading sessions.
However, a support cluster formed by the 200-hour simple moving average and the combination of the weekly and the monthly PPs at 56.14 could provide significant support for the pair in the nearest future.
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