Analysis for September 2nd, 2014
DJIA Index
Index is still forming diagonal triangle pattern inside wave
5 of (A). Earlier, the price completed a long
extension inside the third wave. Possibly, during the day the market may reach a new high and then start a new correction.
Crude Oil
It looks like Oil is about to finish an ascending
zigzag pattern [4] with
triangle pattern (B) inside it. In the near term, the price is expected to rebound from the upper border of the descending channel. In this case, bears will return to the market
.
RoboForex Analytical Department