| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Buy | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇒ | ⇘ |
The light crude oil has declined by 23.21% in value against the US Dollar since January 8. A narrow descending channel pattern has been guiding the price since the beginning of January.
As for the near future, the LIGHT.CMD/USD pair will most likely continue to edge lower. Bearish traders could target the $48 mark during the following trading sessions.
Furthermore, technical indicators demonstrate that the commodity could continue to trader bearish in the nearest future.