Analysis for June 27th, 2013
It looks like the Index completed zigzag
pattern inside wave 
. On the minor wave level, the price is forming an initial bullish impulse. Later, after finishing a local correction, the instrument is expected to form an extension
inside the third wave.
At the H1 chart we can see, that the price completed a descending impulse inside wave (C)
. Right now, the Index is finishing the fourth wave inside wave 1
. There is a possibility that during the day the instrument may break the latest maximum while forming wave 5 of (1)
After completing wave D
, Oil formed a descending impulse inside wave [A].
Right now, the instrument is being corrected. However, the price may finish wave [B]
in the nearest future and then start a new descending movement.
More detailed wave structure is shown on the H1 chart. It looks like wave [B]
is taking the form of zigzag
pattern. On the minor wave level, the price is completing wave (C)
. During a correction, I opened a short-term buy order, but I think it will soon be the time to start selling.
RoboForex Analytical Department