Article By RoboForex.com
DJIA Index
Dow Jones probably continues to build elongation inside wave [3], inside of this wave we can see horizontal triangle built inside of 4th wave. Probably, in the nearest few days we can see flat, and after that growth inside of wave (5) of [3] can be resumed.
As we see from H1 chart, recently wave C built inside of triangle was completed. Probably, zigzag in the wave D will be completed before the week ends. After wave E is completed and price pulls back from lower side of the pattern, I plan to buy actively anticipating to see 5th growing wave.
Chart of Crude Oil shows that ascending impulse inside of wave C is finishing. It’s not excluded that in short-term perspective market will set new high, but it may be the final break to the upside. After that I expect price to correct.
H1 chart shows more detailed picture. After wave [4] will be completed, we may see diagonal triangle inside of the 5th wave. Later we can see pullback from upper line of the model – it will be a trigger for correction to start.
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.