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DJIA Index
Dow Jones probably continues to build triangle inside of 4th wave. Probably, in the nearest days we can expect further sideways action. Later I expect that price can go up in the form of wave (5) of 3.
At H1 chart, we see more detailed picture. Probably, recently wave C was completed and on the lower wave level we’ve
seen initiative impulse to the upside. In short-term perspective we can expect ascending impulse inside of wave D.
Chart of Crude Oil shows that there is a possibility for reversal for this instrument. Internal structure of wave C assumes that it can be already completed, therefore next thing that can happen is bearish impulse inside of wave 1 of A.
As we see from H1 chart, after triangle inside of wave [4] was completed, we have seen rapid 5th wave. Probably, now «wedge» is building inside of wave [1]. Probably, after local correction will be ended, we we will be able to see final 5th wave inside of current «wedge».
RoboForex Analytical Department
Article By RoboForex.com
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