Wave Analysis 01.04.2014 (DJIA Index, Crude Oil)

01.04.2014

Analysis for April 1st, 2014

DJIA Index

Index is starting new ascending movement. Possibly, wave [2] took the form of double three pattern. Probably, right now price is forming initial ascending impulses inside the third wave. Stop is already in the black. Later instrument is expected to break local maximum.



More detailed wave structure is shown on H1 chart. After completing zigzag pattern inside wave (Y), price formed ascending impulse. Most likely, after slight correction, instrument will continue growing up.




Crude Oil

After completing initial impulse inside wave 1, Oil started new correction. Most likely, the second wave has been already completed and right now market is falling down inside the third one. I’ll move stop into the black right after instrument starts moving downwards.



As we can see at the H1 chart, Oil formed zigzag pattern inside wave 2. On minor wave level, price completed bearish impulse inside wave (1). Probably, during the day instrument may start moving downwards inside the third wave.



 
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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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