| 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) | Neutral | Neutral | Buy |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇒ |
The light crude oil prices have surged by 9.37% since the beginning of October. The commodity tested the upper line of an ascending channel pattern at the 41.50 level during last week's trading sessions.
Currently, the crude oil is trading near the lower boundary of the channel pattern and could be set for a breakout.
If the breakout occurs, a decline towards the weekly support level at 37.85 could be expected during the following trading sessions.
However, if the ascending channel pattern holds, bullish traders could pressure the LIGHT.CMD/USD pair higher this week.