Wave Analysis 19.09.2014 (DJIA Index, Crude Oil)
19.09.2014
Analysis for September 19th, 2014
DJIA Index
The DJIA Index is boosting its growth. It looks like the price is extending wave 3, inside which the market is completing the third wave. In the near term, after a local correction, the price may yet continue moving upwards.
Crude Oil
In case of Oil, we have to change to a bearish scenario. Probably, in wave [5] the price has formed wedge inside the first wave and zigzag inside the second one. In the future, the market may start a significant descending movement inside the third wave, that’s why I’m planning to open sell orders during a 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.