| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Sell |
| RSI(14) | Buy | Neutral | Neutral |
| Stochastic(5;3;3) | Buy | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Buy | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇒ | ⇒ | ⇘ |
The LIGHT.CMD/USD pair fell by 6.56% in value during last week's trading sessions. The price tested a support cluster formed by the combination of the 38.2% Fibonacci retracement level and the weekly S1 at 56.74 during the Asian session on Wednesday.
If this support cluster holds, the Light crude oil prices will continue to edge higher during the following trading sessions. The potential target will be near the $64 mark.
However, if the pair breaks the support cluster as mentioned earlier, bearish traders might aim for the 61.80% Fibonacci level at 54.33 in the near future.