well we are currently sittin in an upward channel on the 4h. so currently i wouldnt suggest either buyin nor selling (at least mediumterm). if we see a break below that channel we still have room for one more wave to the downside. breaking above the channel might indicate a bigger correction like we saw in late 15.
Current LT Decline in XPD price looks strange isn't it ? Fm my view decrease in Oil prices should make automotive industry more attractive as running the cars become cheaper and finally cars production and sales shall go higher together with XPD as the consumption growth while extraction stays the same or even declines.