Analysis for February 25th, 2013
It looks like the Index completed an ascending impulse inside wave 5.
On the minor wave level the price formed an initial descending impulse. In the near term, the price is expected to start moving downwards and form wave 
As we can see at the H1 chart, the instrument completed an impulse inside wave 
and then started a correction. We may assume that wave 
is taking the form of zigzag
pattern. During Monday the Index may start forming (1)
It looks like Oil is expanding
the third wave. Earlier the instrument completed an ascending impulse inside wave C
. There is a possibility that the price may break a local minimum during the next several hours. The target for the bears is at the level of $92 per barrel of Light Sweet.
More detailed wave structure is shown on the H1 chart. It looks like the fourth wave is taking the form of triangle
pattern. In the near term, we can expect the price to start a new descending movement inside wave 5 of (3)
RoboForex Analytical Department
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