Analysis for September 12th, 2013
DJIA Index
The chart current structure chart implies that the Index completed an ascending
zigzag pattern inside wave
[B]. Earlier the price formed a bearish impulse inside wave
[A]. During the next several hours, the instrument is expected to start falling down inside an initial wave
(1).
![](https://roboforex.com/files/filemanager/image/forecasts/2013/september/12/djiaw1.png)
More detailed wave structure is shown on the H1 chart. We may assume that the price finished an impulse inside wave
(C). On the other hand, there is a possibility that the Index may form an
extension inside wave
5, that’s why I’ll open a sell order only after the price completes a bearish impulse inside wave
1.
![](https://roboforex.com/files/filemanager/image/forecasts/2013/september/12/djiaw2.png)
Crude Oil
We can’t exclude a possibility that the market finished the second wave inside
diagonal triangle pattern. Right now, the market is trying to start a new ascending movement inside wave
3. If the bulls are able to continue pushing the price upwards, I’ll increase my long position.
![](https://roboforex.com/files/filemanager/image/forecasts/2013/september/12/crude1.png)
As we can see at the H1 chart, the price formed
zigzag pattern inside wave
2. On the minor wave level, the instrument completed a short initial ascending impulse. I’ll move the stop into the black as soon as the price breaks a local maximum.
RoboForex Analytical Department