Wave Analysis 25.04.2013 (DJIA Index, Crude Oil)


Analysis for April 25th. 2013

DJIA Index

It looks like the Index completed the fourth wave and then started the fifth one. The market may reach a new maximum during the next several days. The short-term target for the bulls is the level of 14950.

As we can see at the H1 chart, the fourth wave was completed in the form of double zigzag pattern. On the minor wave level, the market formed an initial wedge pattern inside wave (1). We may assume that a local correction has already finished, so the instrument may start forming the third wave quite soon.

Crude Oil

Oil continues forming triangle pattern with wave E inside it. Currently the price is being corrected inside wave [B]. Later we can expect the instrument to start a new descending movement while forming wave [C] of E.

More detailed wave structure is shown on the H1 chart. The price completed a descending impulse inside wave [A] and right now is finishing zigzag pattern inside wave [B]. In the nearest future, Oil is expected to start forming an initial descending 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.