Article By RoboForex.com
Analysis for June 27th, 2014
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.
Crude Oil
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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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.
