Light.CMD/USD 1H Chart: Two scenarios likely

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Buy Buy Neutral
Stochastic (5; 3) Buy Buy Buy
Alligator (13; 8; 5) Sell Sell Neutral
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

Crude oil has been depreciating against the US Dollar since the beginning of October when the pair reversed from the upper boundary of a long-term ascending channel at 76.00.  

As apparent on the chart, the pair is testing lower channel line at 64.78. Technical indicators are in favour of an advance towards the weekly R1 at 70.20 within the following sessions. 

However, if given channel does not hold, a breakout south occurs in the nearest future. A potential downside target is the psychological level at 63.00.

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