| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Sell | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Sell | Neutral |
| Alligator(13;8;5) | Buy | Neutral | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇘ |
The Light crude oil prices have edged higher more than 10% in value against the US Dollar since last week's trading sessions. The surge was connected to the growing tensions between the United States and Iran.
Given that the commodity has breached all three SMAs, it is likely that the pair will continue to edge higher during the following trading sessions. The potential target for bullish traders would be near a psychological resistance level at 64.00.
Although, a resistance cluster formed by the weekly and the monthly pivot points at 59.94 could hinder the surge.