Analysis for March 11th, 2014
Index is still being corrected. Most likely, in the future price may continue forming extension
inside wave (3)
. So far, I’ve got only one buy order with stop placed at maximum.
More detailed wave structure is shown on H1 chart. It looks like wave 2
was completed in the form of double three
pattern. Later instrument is expected to start new ascending movement and break latest maximum.
Oil is starting falling down inside the third wave. Earlier price completed bearish impulse inside wave 
and then formed correction inside the second one. Possibly, price may reach new minimum during the day.
As we can see at the H1 chart, wave 
took the form of zigzag
pattern. On minor wave level, price formed initial impulse inside wave (1)
. After completing local correction, instrument is expected to move downwards inside the third wave.
RoboForex Analytical Department