Wave Analysis 30.09.2014 (DJIA Index, Crude Oil)
30.09.2014
Analysis for September 30th, 2014
DJIA Index
It looks like the DJIA Index has finished a bearish wedge pattern inside wave [1]. Earlier the price formed diagonal triangle pattern inside wave 5 of (3), which was a signal for a new correction. After wave [2], I’m planning to open an additional sell order in case the market continues falling inside the third wave.
Crude Oil
Probably, Oil has completed diagonal triangle pattern inside wave [5]. This wave may be a part of impulse of wave C inside a larger zigzag. In the near term, the market may continue growing inside wave [1], that’s why I’ve opened a buy order during a local correction.
RoboForex Analytical Department
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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 bears no responsibility for trading results based on trading recommendations described in these analytical reviews.