LIGHT.CMD/USD 4H Chart: Bulls could prevail

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Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)SellSellSell
Stochastic(5;3;3)SellSellNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate⇒⇒⇗

[ANNOUNCE]Light crude oil prices have surged by 6.34% since the beginning of February. The commodity bounced off the lower boundary of an ascending channel pattern at 52.00 on February 1.[/ANNOUNCE]

All things being equal, the LIGHT.CMD/USD exchange rate could continue to trend bullish during the following trading sessions. The possible target for bullish traders would be near the $58.00 mark.

However, the crude oil price is expected to make a brief pullback towards the 53.00 area in the shorter term.

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