| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Sell | Buy |
| Alligator(13;8;5) | Buy | Sell | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇘ | ⇘ |
The light crude oil is gradually edging up against the US Dollar. The pair breached the 50– and 100– period SMAs and the upper boundary of a descending channel pattern at 51.57 during yesterday's trading session.
Given that the exchange rate has breached the upper boundary of the descending channel, a surge towards the 200– period simple moving average at 55.32 could be expected within the following trading sessions.
However, a resistance level formed by the weekly R1 at 53.24 and the weekly R2 at 54.23 could provide resistance for the commodity in the shorter term.