Light.CMD has been appreciating against the US Dollar since mid-August after the commodity bounced off its lower boundary of an ascending channel pattern at 64.55.
Currently, the commodity price has tested the weekly PP at 74.74. Furthermore, the 50-hour simple moving average was providing support for the pair at 74.23.
If the light.CMD/USD holds the resistance line at 74.74 then its back toward the weekly S1 at 72.56 for the pair but if this resistance level as mentioned above breaks, the buy could extend to 76.51 during the following trading sessions.
