| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Neutral | Buy |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇒ |
Since August 20, the Light crude oil price has edged higher by 13.73%. The commodity breached a resistance level formed by the 200– period simple moving average at 68.67 during yesterday's trading session.
Currently, the US crude oil is trading near the upper line of a descending channel pattern and could be set for a breakout.
If the breakout occurs, a surge towards the 76.00 level could be expected within the following trading sessions.
However, if the channel pattern holds, sellers could target the 62.00 area next week.