Wave Analysis 15.04.2013 (DJIA Index, Crude Oil)


Analysis for April 15th, 2013

DJIA Index

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 [5] of 5. During a local correction, I opened a buy order. The market is expected to start a new ascending movement during the day.

Crude Oil

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.

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.