LIGHT.CMD/USD 4H Chart: Could make short-term pullback - Trade Pattern Ideas - Dukascopy Bank
Wed, 02 Oct 2019 06:00:12 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Sell
Neutral
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇘
⇘
⇒
The Light crude oil prices have depreciated about 13.46% in value since September 17. A breakout occurred through the lower boundary of an ascending channel pattern at 55.11 during Monday's trading session.
Given that a breakout had occurred, the LIGHT.CMD/USD pair will likely continue to edge lower within this week's trading sessions. Bearish traders might target a swing low at 50.29.
However, the commodity is expected to make a pullback towards a resistance cluster formed by the weekly and monthly PPs at 56.84 during the coming days.
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