Analysis for March 27th, 2013
The assumption that the price completed wave 5
hasn’t been confirmed yet. Yesterday the Index started moving upwards again. Most likely, in the nearest future the bulls will reach one more historic maximum.
We may assume that wave (4)
was finished in the form of flat
pattern. Later the Index finished an initial impulse inside wave 1
and then completed wave 2
. We can’t exclude a possibility that the instrument may start a new ascending movement inside wave 3
Oil continues a correctional movement; wave 
is taking the form of zigzag
pattern. On the minor wave level the instrument is forming wave (C)
, the internal structure of which implies that the price may continue growing up a little bit.
More detailed wave structure is shown on the H1 chart. It looks like the price is completing the fourth wave inside wave (C)
. On Wednesday Oil may to start moving upwards inside the fifth wave and break a local maximum.
RoboForex Analytical Department