Wave Analysis 18.03.2013 (DJIA Index, Crude Oil)

Analysis for March 18^th, 2013

DJIA Index

We may assume that the Index completed an ascending impulse. On the minor wave level the price is forming an initial descending impulse. Most likely, in the nearest future the instrument will continue falling down.



At the H1 chart we can see that after completing wave (5) of [5] the Index formed a bearish impulse inside wave (1). We can’t exclude a possibility that the bulls may eliminate the gap while forming the second wave. Later market is expected to start a new descending movement inside the third wave.

Crude Oil

We may assume that Oil finished zigzag pattern inside wave [2]. On the minor wave level the price is starting to fall down inside the first wave. Later the instrument may continue falling down towards new minimums.



More detailed wave structure is shown on the H1 chart. The current chart structure implies that the instrument finished zigzag pattern inside wave (2). It looks like the price may start forming a new bearish impulse during the week.



 
RoboForex Analytical Department