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Wave Analysis 25.02.2013 (DJIA Index, Crude Oil)

25.02.2013

Analysis for February 25th, 2013

DJIA Index

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 [3].



As we can see at the H1 chart, the instrument completed an impulse inside wave [1] and then started a correction. We may assume that wave [2] is taking the form of zigzag pattern. During Monday the Index may start forming (1).



Crude Oil

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).



 
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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.