Analysis for June 11th, 2013
The Index is starting a new ascending movement. After completing the fourth wave, the price formed an initial ascending impulse. Right now, a local correction is taking place, but the instrument is expected to start growing up again inside wave (3) of 
More detailed wave structure is shown on the H1 chart. Wave 
took the form of zigzag
pattern with triangle
inside wave (B)
. On the minor wave level, the instrument finished a bullish impulse inside wave (1)
. After completing the second wave, the price is expected to move upwards inside the third one.
At the H4 chart, we can see that the price formed several initial waves in a row. We may assume that Oil is starting moving upwards inside wave .
There is a possibility that the instrument may break the maximum during the next several days.
As we can see at the H1 chart, the price is falling down inside the second wave. The instrument may complete this correction during the day. As soon as the market forms an initial ascending impulse, I’ll open one more buy order.
RoboForex Analytical Department