LIGHT.CMD/USD 4H Chart: Pressured by 50– period SMA - Trade Pattern Ideas - Dukascopy Bank
Wed, 13 Nov 2019 06:55:04 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
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Sell
SAR(0.02;0.2)
Buy
Buy
Sell
Aggregate
⇗
⇗
⇘
After the Light crude oil tested the lower boundary of an ascending channel pattern at 54.05, the commodity made a U-turn north. As a result, the pair appreciated about 6.8% in value.
The LIGHT.CMD/USD pair tested a resistance cluster formed by the weekly pivot point and the monthly R1 at 57.06 during Tuesday's trading session. From a theoretical point of view, the pair might make a brief retracement towards the 200– period SMA at 54.74 within the following trading sessions.
If the 200– period simple moving average holds, the Light crude oil price will make an upside reversal before the end of next week's trading sessions.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
For further information regarding potential cooperation, please call us or make callback request.
To learn more about Dukascopy Bank Binary Options
/ Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Business Introducer and other trading related information, please call us or make callback request.
For further information regarding potential cooperation, please call us or make callback request.