LIGHT.CMD/USD 4H Chart: Remains near 57.31

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

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

Bullish momentum dominated the Light crude oil prices during the past week. The commodity has rallied about 6.91% in values during this short period of time.

Currently, the LIGHT.CMD/USD is located near a traditional weekly resistance level at 57.31.

Technical indicators flash bullish signals on both the smaller and larger time frames. From a theoretical point of view, the pair is likely to breach the weekly resistance level as mentioned above. 

However, if the resistance level holds, the pair could aim for a support level at the 54.29 area during the following trading sessions.

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