Si.Yang

Above the resistance level: 47.73

Long
FX:USOIL   CFDs on Crude Oil (WTI)
Above the resistance level: 47.73
But there should be a walk in the descending triangle pattern.
If you have good news or speculation, then touched 47.73, even beyond is entirely possible, Paul is resistance above.
After the final results of the international energy conference next week, week 3, high probability not reach an agreement, then OK, just go 5 3 Adjust the waves of the stock market rose, the downward trend is continuing up.

Comments

hello.... it seems that Oil is anyways doomed to die its death. Reasons are clear .. (a) Oil even if it was available for free, it is widely responsible for damaging the Earth's environment. (b) Greed of the Oil producers kept oil prices artificially high... as a result - world started looking at developing alternate energy sources. Solar energy is now bound to replace Oil in all spheres. (c) Major desert Kingdoms which have been so far manipulating oil prices are now seeing a death of this industry - hence heavily investing in solar power generation - as also trying to divest out of its own oil industry (SAUDI wanting to divest out of SABIC, which was always their cash cow)... (d) capital expenditure in Oil has been replaced by investment in SOLAR POWER systems - solar power production systems capital costs falls down with every passing day... (e) OIL is now doomed... i think the only application oil would have for future is for making of Greases and Lubricants and no more as fuel. (f) MOST of the oil producing countries have got major civil and military unrest.. Civil unrest is often caused because of sinful earnings. Let us not forget : FUNDAMENTALS EVENTUALLY TAKE OVER THE TECHNICALS.
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