| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Sell | Neutral |
| Alligator(13;8;5) | Buy | Buy | Sell |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇗ | ⇒ | ⇒ |
The Light crude oil appreciated about 5.53% in values against the US Dollar during the past week. The pair bounced off a support level formed by the weekly S1 at 54.63 on March 8.
The LIGHT.CMD/USD pair is trading near a strong resistance level at the 57.84 region.
If the commodity passes the resistance level, the next targets will be near the upper boundary of an ascending channel pattern at 62.02.
However, if the resistance line holds, a decline towards a support cluster at 56.53 is likely to occur.