Analysis for May 9th, 2013
The Index continues moving upwards. It looks like the instrument is forming an ascending impulse inside wave 
. On the minor wave level, the market is expected to continue growing up while forming wave (3)
As we can see at the H1 chart, the Index is finishing a bullish impulse. There is a possibility that the price may expand wave 5
. Most likely, the instrument will each new maximums during the next several days.
Well, it looks like Oil isn’t going to expand wave 
so far. Earlier the instrument completed a horizontal correction inside the fourth wave, which means that right now the price may be growing up and forming the fifth one.
More detailed wave structure is shown on the H1 chart. Oil completed triangle
pattern inside wave (4)
and then started growing up inside the fifth one. We can’t exclude a possibility that the market may break the maximum by the end of the week.
RoboForex Analytical Department