Article By RoboForex.com
Analysis for August 25th, 2014
DJIA Index
In the end of last week, Index got very close to its historic maximum. Possibly, during the next several days the price may reach a new all-time high while forming a diagonal triangle inside wave 5 of (3). In the future, after one or several rebounds from the pattern’s upper border, “bearish revolution” may take place and the market may start a new and more serious correction.
Crude Oil
It looks like after quite a long correction inside wave 2, Oil is starting falling inside the third wave, during which bears may push the market downwards significantly. If bulls aren’t going to offer any resistance in the future, this descending movement may turn out to be very fast and allow to increase my short position during local corrections.
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.
