Analysis for January 9th, 2013
The price continues forming double zigzag
pattern inside wave 
. At the moment the Index is being corrected, but may start a new ascending movement in the nearest future. The short-term target for the bulls is at the level of 13600.
At the H1 chart we can see that the Index is finishing wave B
. On the minor wave level the price started forming an initial ascending impulse. The instrument is expected to break a local maximum during the day.
Oil is still consolidating; we can’t exclude a possibility that the price may break a local maximum on Wednesday. Later, the instrument is expected to make a reverse and start forming a descending impulse inside wave 1
As we can see at the H1 chart, yesterday the instrument formed an initial impulse inside wave (5).
Most likely, in the nearest future the price will start a new ascending movement. The target for the bulls is at the level of $95 per barrel of Light Sweet.
RoboForex Analytical Department