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LIGHT.CMD/USD 4H Chart: Bears markets

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)BuyNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellBuy
Aggregate⇘⇘⇒

[ANNOUNCE]The Light crude oil has depreciated about 9.00% in value against the US Dollar since July 31. A breakout occurred through the lower boundary of an ascending channel pattern on August 1.[/ANNOUNCE]

Currently, the LIGHT.CMD/USD pair is trading near the bottom border of a descending channel at 53.54.

If the pair breaks the descending pattern, bearish traders could drive the commodity towards the $51.70 within this week's trading sessions.

However, if the support line, formed by the lower band of the descending channel holds, a surge towards the 56.57 could be expected in the short term.

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