LIGHT.CMD/USD 4H Chart: Breaks channel

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralSell
Alligator(13;8;5)NeutralBuyBuy
SAR(0.02;0.2)SellBuyBuy
Aggregate⇒⇗⇗

[ANNOUNCE]The Light crude oil price surged by 5.70% during last week's trading sessions. The commodity tested the 46.00 level on December 4.[/ANNOUNCE] The pair breached the lower boundary of an ascending channel pattern during yesterday's trading sessions.

Given that a breakout has occurred, bearish traders could pressure the LIGHT.CMD/USD pair lower during the following trading sessions. The potential target for bears would be at the 43.00 level.

However, a support level formed by the 50– period simple moving average at 45.38 could provide support for the crude oil price within this week's trading sessions.

Actual Topics