| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇘ |
During the past two weeks, the Light crude oil fell by 1022 points or 18.93% in value against the US Dollar. The pair tested the lower boundary of a descending channel pattern at 43.78 on March 2.
All things being equal, the commodity will likely make a slight upward movement towards the weekly R1 and the 100– period SMA at the 51.00 regions within this week's trading sessions.
However, technical indicators suggest that the LIGHT.CMD/USD exchange rate could continue to decline in the descending channel pattern within the following trading sessions.