Wave Analysis 27.03.2014 (DJIA Index, Crude Oil)

27.03.2014

Analysis for March 27th, 2014

DJIA Index

Index is still being corrected. It looks like after completing zigzag pattern inside wave (B), price started forming bearish impulse inside wave (C) of [2]. Possibly, instrument may break minimum until the end of this week.



More detailed wave structure is shown on H1 chart. It looks like price formed bearish impulse inside wave 1. Instrument is expected to finish local correction during the day and then start falling down inside the third wave.




Crude Oil

Oil is still being corrected. It looks like after completing descending impulse, price started forming the second wave. In the near term, instrument may move upwards a bit, but later it is expected to start new descending movement inside wave 3.



As we can see at the H1 chart, Oil formed horizontal triangle pattern inside wave [B]. I opened short-term buy order during local correction. I’ll move stop into the black as soon as market breaks maximum.



 
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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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