Wave Analysis 14.03.2014 (DJIA Index, Crude Oil)

14.03.2014

Analysis for March 14th, 2014

DJIA Index

It looks like Index formed diagonal triangle pattern inside wave (5) and right now price is being corrected. Most likely, instrument will continue forming bearish impulse inside wave (A) during the next several days.



As we can see at the H1 chart, yesterday Index finished the third wave and right now is being corrected inside the fourth one. It looks like instrument is going to continue forming flat pattern during Friday, but later it may start falling down inside the fifth wave.




Crude Oil

Oil is still falling down inside the third wave. Right now, market is consolidating, but later it is expected to start falling down. Possibly, instrument may reach new minimum during Friday.



As we can see at the H1 chart, Oil is about to complete the fourth wave inside wave [3]. I’ve got two sell orders; stop is already in the black. In the near term, instrument is expected to start moving downwards inside wave (5) of [3].



 
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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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