| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Sell | Neutral |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇘ | ⇒ |
The Light crude oil prices have depreciated about 13.46% in value since September 17. A breakout occurred through the lower boundary of an ascending channel pattern at 55.11 during Monday's trading session.
Given that a breakout had occurred, the LIGHT.CMD/USD pair will likely continue to edge lower within this week's trading sessions. Bearish traders might target a swing low at 50.29.
However, the commodity is expected to make a pullback towards a resistance cluster formed by the weekly and monthly PPs at 56.84 during the coming days.