| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Sell | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Sell |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇗ |
The Light crude oil prices bounced off from the lower boundary of an ascending channel pattern at 57.60 on January 4. As a result, the commodity has jumped by 6.20% during this week.
All things being equal, the LIGHT.CMD/USD pair is likely to continue to edge higher in the ascending channel pattern during the following trading sessions. The potential target for bulls would be at the $53.00 mark.
However, the weekly resistance level at 50.52 could provide resistance for bullish traders within this week's trading sessions.