Analysis for May 28th, 2013
DJIA Index
Despite a short ascending movement, there is still a possibility that the Index may make a reverse. We may assume that earlier the price completed wave
[5]. Later the instrument is expected to continue falling down inside wave
(1).
We may assume that after completing an initial impulse inside wave
(1), the Index started a correction. The second wave may be finished within the next several hours. I’m planning to open several sell orders as soon as the price forms first bearish impulses.
Crude Oil
After completing a descending impulse, Oil formed
flat pattern inside the second wave. On the minor wave level, the instrument finished an impulse inside wave
[C]. Later the instrument is expected to continue growing up while forming wave
(1).
At the H1 chart we can see, that wave
(2) was completed in the form of
zigzag pattern with
triangle inside it. During the next several days, the market may continue moving upwards and break the maximum of wave
[B].
RoboForex Analytical Department