| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Sell | Sell |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇒ |
The Light crude oil price has surged by 13.87% since the beginning of January. The 50– period simple moving average pressured the commodity higher during the past two weeks.
Technical indicators suggest buying signals on the 4H, daily and weekly time-frame charts, most likely, the crude oil price could continue to edge higher. Bullish traders might target the $55 level during the following trading sessions.
However, the weekly R2 at 54.91 could provide resistance for the LIGHT.CMD/USD exchange rate during this week's trading sessions.