LIGHT.CMD/USD Technical Analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
LIGHT.CMD/USD is currently testing a major horizontal resistance zone between $103.50 and $105.00 following a sharp multi-week advance off the July lows near $68.00. While the medium-term market structure remains firmly bullish, the appearance of small candle bodies and upper wicks near $104.00 signals supply absorption and short-term exhaustion after an extended move without retracements. A decisive daily close above $105.00 would clear the way toward upper targets at $110.00–$112.00, whereas a failure to breach this overhead ceiling would likely trigger a corrective pullback toward immediate support around $98.00–$100.00, with major structural support sitting lower at the previous breakout level of $91.50.



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