Article By RoboForex.com
Analysis for June 13th, 2014
DJIA Index
Index is being corrected. Possibly, right now price is forming wave (4). Considering that local descending movement may yet continue in the nearest future, I’m staying out of the market and planning to start buying after instrument completes the fourth wave.
More detailed wave structure is shown on H1 chart. Probably, price formed bearish impulse A inside wave (4). After completing wave B, instrument is expected to start forming impulse inside wave C.
Crude Oil
Oil continues moving upwards very fast. It looks like right now price is forming bullish impulse inside wave C. possibly, instrument may reach several new maximums during Friday.
As we can see at the H1 chart, Price is forming the third wave inside wave C. In the near term, instrument may form local correction, but later it is expected to start forming ascending impulse inside wave [5] of C.
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RoboForex Analytical Department
Article By RoboForex.com
Attention!
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.
