Analysis for June 21st, 2013
We may assume that the Index completed zigzag
pattern inside wave 
. On the minor wave level, the price formed a descending impulse inside wave (C)
. We can’t exclude a possibility that right now the market is forming an initial ascending impulse. I’m planning to open some buy orders during a local correction.
At the H1 chart we can see, that the Index finished an impulse inside wave (C)
and then – a short initial ascending impulse. After completing a local correction, the instrument is expected to start moving upwards inside the third wave.
We can’t exclude a possibility that the price completed wave D
in the form of zigzag
pattern inside triangle(B)
. Oil is starting to fall down inside wave E
; the instrument may form this wave for several month.
More detailed wave structure is shown on the H1 chart. The instrument completed an ascending impulse inside wave [C]
and then formed a bearish impulse inside wave (1)
. After completing the second wave, the price is expected to start moving downwards.
RoboForex Analytical Department