Wave Analysis 12.09.2014 (DJIA Index, Crude Oil)
12.09.2014
Analysis for September 12th, 2014
DJIA Index
In case of the DJIA Index, a bullish structure remains in effect. Possibly, after completing wave [4] in the form of zigzag, the price is starting to form the fifth ascending wave. If this scenario continues, the market may break the previous historic maximum during the next several hours.
Crude Oil
In case of Oil, the scenario, which implies that the price is forming wedge in wave (1) inside the bigger fifth wave, is moving to the forefront. Consequently, after finishing a local correction, the price may start a significant descending movement. However, considering that wave (2) is being formed quite fast, I’ve got only a pending sell order.
RoboForex Analytical Department
Attention!
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.