| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇘ | ⇒ | ⇒ |
The light crude oil has declined by 6.11% since the middle of September. A breakout occurred through the lower boundary of an ascending channel pattern during yesterday's trading session.
Given that a breakout has occurred, the LIGHT.CMD/USD exchange rate could continue to edge lower during the following trading sessions. The potential target would be at the 37.00 level.
Although, support cluster formed by the 100– period simple moving average and the weekly S1 at 38.75 could provide support for the light crude in the shorter term.