Analysis for January 11th, 2013
The Index continues moving upwards, the price is still forming double zigzag
pattern inside wave 
. Most likely, in the nearest future the instrument will start a new ascending movement. The target for the bulls is the level of 13500.
More detailed wave structure is shown on the H1 chart. We may assume that the Index formed an initial ascending impulse inside wave 
. During a correction I opened an additional buy order. During the day the instrument may reach a new local maximum.
Yesterday the bulls reached a new local maximum. During the day the price may form one more ascending wave. Later, there is a strong possibility that the instrument may reverse and start falling down inside the first wave.
As we can see at the H1 chart, the instrument completed a short wave 3
on Thursday. Currently Oil is being corrected inside the fourth wave. Most likely, during the next several hours the price will start a new ascending movement inside wave 5 of (5)
RoboForex Analytical Department