Article By RoboForex.com
Analysis for May 1st, 2014
DJIA Index
After completing double three pattern inside wave [2], Index started growing up again. Possibly, instrument may reach new historic maximum while forming wave (3) of [3]. I’ve got three buy orders, with stop in the black.
More detailed wave structure is shown on H1 chart. After finishing zigzag pattern inside wave (2), Index formed bullish impulse inside the first wave. Most likely, in the nearest future price will continue growing up.
Crude Oil
I’ve been able to move stop on my yesterday’s order into the black. After completing local correction, instrument is expected to continue falling down. Minimum of wave 1 may be broken quite soon.
As we can see at the H1 chart, instrument is forming extension inside wave [3]. On minor wave level, market is about to complete the second wave. In the near term, instrument is expected to continue falling down inside the third wave.
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.
