Article By RoboForex.com
Analysis for June 12th, 2014
DJIA Index
Index is still being corrected close to its historic maximums. I’m holding two buy order with stop already in the black. It looks like price is going to continue growing up and may reach new historic maximum during Thursday and Friday.
As we can see at the H1 chart, price is forming extension inside wave 3. On minor wave level, Index is finishing the fourth wave and may break maximum during the day. I’m planning to move stops after the market.
Crude Oil
Oil is getting closer to its maximums again. Probably, right now price is forming bullish impulse inside wave C. I’ve got only one buy order so far with stop in the black. Possibly, bears may reverse market downwards quite soon.
More detailed wave structure is shown on H1 chart. Price is completing the fifth wave inside wave C. After finishing it, instrument may reverse.
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RoboForex Analytical Department
Article By RoboForex.com
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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 LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
