| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Sell | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Sell | Neutral |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇒ | ⇗ | ⇗ |
The Light crude oil prices have been edging higher in an ascending channel pattern since November 8. The LIGHT.CMD/USD exchange rate has surged by 20.40% since the beginning of this month.
Technical indicators suggest buying signals on the 4H, daily and weekly time-frame charts. Most likely, bullish traders could continue to pressure the crude oil prices higher during the following trading sessions.
However, a resistance level at the 47.00 area could provide a barrier for bulls within this week's trading sessions.