Wave Analysis 22.04.2014 (DJIA Index, Crude Oil)

22.04.2014

Analysis for April 22nd, 2014

DJIA Index

Probably, Index completed double three pattern inside wave [2]. On minor wave level, price finished the first ascending wave. After completing local correction, instrument is expected to start growing up inside the third wave.



As we can see at the H1 chart, price finished wave (1). Possibly, in the nearest future local correction may continue. Later, price is expected to start moving upwards inside the third wave.




Crude Oil

In case of Oil, current correction may yet continue. Probably, in the nearest future price may reach new local maximum. In general, forecast remains the same: market is expected to start falling down inside the third wave.



More detailed wave structure is shown on H1 chart. It looks like price is forming double zigzag pattern inside wave 2. On minor wave level, Oil formed triangle pattern inside wave (B). During correction, I opened short-term buy order.



 
RoboForex Analytical Department

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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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