Analysis for March 15th, 2013
The Index continues forming an ascending impulse inside wave 5.
On the minor wave level the price completed divergent horizontal triangle
pattern and started forming the fifth wave. The instrument reaches new maximums almost every day and Friday won’t probably be an exception.
More detailed wave structure is shown on the H1 chart. It looks like the instrument is forming an impulse inside wave (5) of 
. During the day the market is expected to continue moving upwards.
Oil finished an initial descending impulse. At the moment the market is being correction; the correction is taking the form of zigzag
pattern. Later the price may is expected to start growing up towards the level of $95 per barrel of Light Sweet.
At the H1 chart we can see that the instrument formed an ascending wedge
pattern inside wave (A)
. We may assume that Oil completed an initial impulse inside wave (C)
. After a local correction the price is expected to start growing up inside wave 3 of (C)
RoboForex Analytical Department