LIGHT.CMD/USD 4H Chart: Buy signals - Trade Pattern Ideas - Dukascopy Bank

Wed, 13 May 2020 05:18:43 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralBuy
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)BuyBuyBuy
Aggregate

The US sweet crude oil has surged by 161.81% since the end of April. The commodity breached the $26 mark during last week's trading sessions. The pair were guided higher by the 50– period simple moving average.

Technical indicators suggest buying signals on both the 4-H and the daily time-frame charts, most likely, the LIGHT.CMD/USD pair will continue to surge during the following trading sessions. The possible target for bullish traders would be at the $30 mark.

On the other hand, the weekly resistance level at 27.77 could provide resistance for the Light crude oil within this week's trading session.


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