Wave Analysis 27.06.2013 (DJIA Index, Crude Oil)


Analysis for June 27th, 2013

DJIA Index

It looks like the Index completed zigzag pattern inside wave [4]. On the minor wave level, the price is forming an initial bullish impulse. Later, after finishing a local correction, the instrument is expected to form an extension inside the third wave.

At the H1 chart we can see, that the price completed a descending impulse inside wave (C). Right now, the Index is finishing the fourth wave inside wave 1. There is a possibility that during the day the instrument may break the latest maximum while forming wave 5 of (1).

Crude Oil

After completing wave D, Oil formed a descending impulse inside wave [A]. Right now, the instrument is being corrected. However, the price may finish wave [B] in the nearest future and then start a new descending movement.

More detailed wave structure is shown on the H1 chart. It looks like wave [B] is taking the form of zigzag pattern. On the minor wave level, the price is completing wave (C). During a correction, I opened a short-term buy order, but I think it will soon be the time to start selling.

RoboForex Analytical Department


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.