Its quite similar for oil and gold and silver ,
three of them all hit the midterm downtrendline,
and all of their candles appear bearish when hitting it.
So strategies are all similar!
Less is more!
another touch of the trendline!
its broke the 4h trendline already.
But not the daily trendline.
Trade closed: stop reached
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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 articfically 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 (d) capital expenditure in Oil has been replaced by investment in SOLAR POWER systems - solar power production systems capital costs falls down with every passing day...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 applicaiton 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 milatary unrest.. Civil unrest is often caused because of sinful earnings. Let us not forget : FUNDAMENTALS EVENTUALLY TAKE OVER THE TECHNICALS.