Analysis for June 7th, 2013
We can’t exclude a possibility that the Index finished the fourth wave; earlier the price completed an extension
inside the third one. On the minor wave level, the instrument formed an initial ascending impulse, that’s why I’ve opened a buy order with the stop near the minimum.
As we can see at the H1 chart, wave 
took the form of zigzag
pattern with diagonal triangle
inside wave (C)
. Also, the Index completed an ascending impulse inside wave (1)
and may continue moving upwards during the day.
It looks like Oil is still forming an ascending impulse inside wave 
. There is a possibility that the instrument may reach a new local maximum in the nearest future.
More detailed wave structure is shown on the H1 chart. The price is finishing the fourth wave inside wave 
. In the near term, Oil is expected to start moving upwards inside wave (5) of 
RoboForex Analytical Department