Analysis for April 23rd. 2013
It looks like the Index is finishing the fourth wave. After completing wave (5) of 
in the form of diagonal triangle
pattern, the price started a new correction. Most likely, in the nearest future the price will start growing up inside the fifth wave.
As we can see at the H1 chart, wave 
is taking the form of double zigzag
pattern. On the minor wave level, the market is forming an initial ascending impulse. The instrument may break the maximum of wave 
by the end of the week.
After finishing a descending impulse inside wave [A]
, Oil started a correction. We can’t exclude a possibility that the price has already finished wave [B]
. If it’s true, then later the instrument may start moving downwards inside wave [C] of E
More detailed wave structure is shown on the H1 chart. We may assume that wave [B]
was finished in the form of zigzag
pattern. In the near term, the price is expected to form an initial bearish impulse inside wave (1)
RoboForex Analytical Department