| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇘ |
The light crude oil has continued to maintain a downside sentiment against the US Dollar. The pair tested the upper boundary of a junior descending channel pattern at 54.00 on June 10.
The commodity tested a resistance level formed by the 50-hour simple moving average at 53.41 during the morning hours of Wednesday's trading session.
If the resistance level holds, the LIGHT.CMD/USD pair could aim for the bottom border of a medium-term descending channel pattern at 50.00 during the following trading sessions.
On the other hand, if the pair breaks the 50-hour SMA, a surge towards the weekly and the monthly PPS at 56.73 could be the next target for bullish traders.