Article By RoboForex.com
Analysis for March 25th, 2014
DJIA Index
Index is still being corrected. It looks like wave [2] is taking the form of zigzag pattern. On minor wave level, market completed wave (B). Most likely, in the nearest future market will continue falling inside wave (C) of [2] and break latest minimum.
More detailed wave structure is shown on H1 chart. After finishing zigzag pattern inside wave (B), Index formed initial descending impulse. Probably, right now instrument is extending the third wave. Price may reach new minimum during the day.
Crude Oil
Oil is about to start strong descending movement inside wave 3. Earlier price completed initial impulse inside wave 1 and then formed correction inside the second one. I’ve got only one sell order so far, but I’m planning to increase my short position in the future.
As we can see at the H1 chart, wave 2 took the form of zigzag pattern. On minor wave level, market formed diagonal triangle pattern inside wave [C]of 2. Most likely, instrument will continue falling down inside wave [1].
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.
