| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Buy | Sell |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇗ | ⇘ |
Light crude oil is gradually edging higher against the US Dollar. The commodity breached both the 50-, 100– and 200– hour simple moving averages during this period.
As for the near future, the light crude oil price will likely continue to surge in a narrow ascending channel pattern until it reaches a resistance level formed by the weekly R2 at 59.43.
If the resistance level holds, the LIGHT.CMD/USD pair could make a retracement towards a support level formed by the monthly pivot point at 56.84 could occur during the following trading sessions.