Analysis for March 21st, 2013
The Index is finishing the fifth wave. Earlier the price completed wave 
in the form of divergent horizontal triangle
pattern. In the near term the instrument is expected to reach a new maximum and later may start a correction.
More detailed wave structure is shown on the H1 chart. The Index is forming diagonal triangle
pattern inside wave (5)
. On the minor wave level the instrument is completing the fourth wave. During Thursday we can expect the Index to start forming wave 5 of (5)
Oil completed an initial descending impulse. We may assume that wave 
was finished in the form of zigzag
pattern and right now the bears are trying to make a reverse downwards. During a local correction I opened a sell order and will move the stop into the black as soon as possible.
As we can see at the H1 chart, wave 
took the form of a quite unusual zigzag
pattern: wave (A)
, wave (C)
is diagonal triangle
pattern. Most likely, in the nearest future the price will continue falling down inside the third wave.
RoboForex Analytical Department