Analysis for February 14th, 2014
Possibly, at H4 chart price completed initial impulse inside wave 
and right now is starting to form extension
inside the third wave. Probably, instrument may reach new local maximum during the day.
As we can see at the H1 chart, wave (2)
took the form of flat
pattern. On minor wave level, bulls formed initial ascending impulse. Market may start growing up inside the third wave in the nearest future.
Probably, Oil completed wave [B]
in the form of double three
pattern. On minor wave level, price is falling down inside the first wave. Forecast is still bearish.
More detailed wave structure is shown on H1 chart. Several days ago, price completed ascending impulse inside wave C
and then formed bearish wave 1
. After local correction, instrument is expected to move downwards inside the third wave.
RoboForex Analytical Department