LIGHT.CMD/USD 4H Chart: Could make short-term pullback

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellNeutral
SAR(0.02;0.2)SellSellBuy
Aggregate

The Light crude oil prices have depreciated about 13.46% in value since September 17. A breakout occurred through the lower boundary of an ascending channel pattern at 55.11 during Monday's trading session.

Given that a breakout had occurred, the LIGHT.CMD/USD pair will likely continue to edge lower within this week's trading sessions. Bearish traders might target a swing low at 50.29.

However, the commodity is expected to make a pullback towards a resistance cluster formed by the weekly and monthly PPs at 56.84 during the coming days.

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