Article By RoboForex.com
DJIA Index
Dow Jones continues probably to move inside 3rd wave in the shape of elongation. On lower wave level we can see horizontal triangle inside 4th wave. Probably, very soon we will see flat with further ascending trend inside wave (5) of [3].
At H1 chart we see more detailed picture. Zigzag is possibly completed after diagonal formation inside wave C. As the day develops, we can see local growth inside D wave, which can be completed not far from high of wave B.
We see final ascending waves on CL inside of current bullish impulse Probably, wave C will be completed in a few days, after that reversal to the downside will be possible with further initiative wave.
As we see from H1 structure, diagonal triangle can be formed inside wave [5]. After local correction will be finished, small 5th wave can begin. In case of further pullback from upper side of the pattern, more serious correction can be initiated.
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.