US30 to fall (28/05/2019) 11:42
Although the price is moving in an upward trajectory it seems as though it is exhausted as it has failed to create higher highs. This is further indicated in the MACD as it seems to be forming a potential MACD divergence. This might be a retracement in the making, towards to the ascending trend line drawn on the MN chart from the low that formed on the 31st Aug 2008 and connecting every low thereafter. Observing the candlesticks on the MN the market has been forming a series of Bearish engulfing candlesticks at price level 26634.01. This may serve as indication that the bears are stepping in. Observing the price from the weekly chart perspective, the price may in the process of forming a triple top pattern which is often perceived as a reversal pattern in the trading world. The daily chart, there is what might be a head and shoulders pattern forming.