Analysis for April 15th, 2013
The Index continues moving upwards, reaching new historic maximums almost every day. Most likely, during the week the instrument will continue growing up inside the fifth wave. The target bulls is the level of 15000.
More detailed wave structure is shown on the H4 chart. It looks like the price is forming wave  of 5
. During a local correction, I opened a buy order. The market is expected to start a new ascending movement during the day.
The chart structure has been changed a bit. It looks like the price is forming triangle
pattern inside wave (B)
. On the minor wave level, Oil started forming wave E
. Later, the market is expected to continue moving downwards.
As we can see at the H4 chart, Oil is forming a descending impulse inside wave [A]
. On the minor wave level, the instrument is finishing the third wave. After completing a local correction, the price may continue moving downwards inside the fifth wave.
RoboForex Analytical Department