Wave Analysis 16.09.2014 (DJIA Index, Crude Oil)
16.09.2014
Analysis for September 16th, 2014
DJIA Index
In case of the DJIA Index, the current correction is taking more time than expected. It looks like the price has finished a bearish wedge inside wave A and started forming wave B. Possibly, it may take the form of zigzag, which means that later the market may start falling again inside impulse wave C of (B).
Crude Oil
Oil is also still being corrected. Probably, wedge pattern formed earlier is just the first wave inside wave [5]. Consequently, after completing the second wave, bears may yet return to the market and reach several new lows.
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