Wave Analysis 25.02.2014 (DJIA Index, Crude Oil)

25.02.2014

Analysis for February 25th, 2014

DJIA Index

On Monday, Index reached new maximum. Possibly, price is starting to form extension inside wave [3]. Stop on my buy order is placed at minimum; I’m planning to open additional orders during the third wave.



As we can see at the H1 chart, after completing bearish zigzag pattern inside wave [2], Index formed two initial ascending impulses in a row. During the day, instrument is expected to complete local correction and start moving upwards inside the third wave.




Crude Oil

After breaking maximum, Oil started new correction, but main trend is still bullish. Probably, price may continue forming ascending impulse inside wave C. Instrument is expected to reach new maximums during the next several days.



More detailed wave structure is shown on H1 chart. Considering that previous ascending movement took the form of zigzag pattern, the fifth wave is expected to become diagonal triangle. Critical level here is at minimum of wave [4].



 
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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.

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