Analysis for February 13th, 2013
The Index continues forming the fifth wave. Yesterday the bulls broke a local maximum and I moved the stop on my buy order into the black. During Wednesday the instrument is expected to continue moving upwards.
At the H1 chart we can see that the fourth wave was completed in the form of zigzag
pattern. Right now the price is forming diagonal triangle
pattern inside the fifth wave. In the nearest future the instrument is expected to continue forming wave  of 5
It looks like Oil started forming the fifth wave. On the minor wave level the price is forming an initial bullish impulse. During the next several days the instrument may break the maximum of wave 
. We can’t exclude a possibility that the market may pass the level of $100 per barrel of Light Sweet very soon.
More detailed wave structure is shown on the H1 chart. As we can see, wave 
took the form of zigzag
pattern, inside which wave (A)
, and wave (B)
is diagonal triangle
. In the near term, the price is expected to start wave 5 of (1)
RoboForex Analytical Department