LIGHT.CMD/USD 4H Chart: Upside potential could prevail - Trade Pattern Ideas - Dukascopy Bank
Wed, 11 Dec 2019 06:44:49 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
Neutral
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇒
⇗
⇘
The Light crude oil has risen by 7.52% in value against the US Dollar since last week's trading sessions. The light crude oil price hit a three-month high at 59.50 during yesterday's trading session.
All things being equal, the LIGHT.CMD/USD pair will likely continue to gain strength during the following trading sessions. The exchange rate could target the $62.00 mark.
However, a resistance cluster formed by the monthly R2 and the weekly R1 at 60.78 could provide resistance for the pair in the shorter term.
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