Wave Analysis 27.08.2013 (DJIA Index, Crude Oil)

27.08.2013

Analysis for August 27th, 2013

DJIA Index

The bears continue pushing the price downwards inside wave [A]. On the minor wave level, the market finished the fourth wave and started the fifth one. In the near term, the instrument is expected to break a local minimum.



At the H1 chart, after completing an extension inside wave (3), the Index finished zigzag pattern inside the fourth one. It looks like the price formed an initial impulse inside wave (5). After completing a local correction, the instrument may start a new descending movement inside wave 3 of (5).



Crude Oil

Oil is starting a new ascending movement inside wave (5) of [C]. On the minor wave level, the price is growing up inside the third wave. We can’t exclude a possibility that the bulls may break all previous maximums by the end of this week.



As we can see at the H1 chart, Oil formed two initial ascending impulses. The price is finishing a correction inside wave [2]. Most likely, in the nearest future the instrument will start moving upwards inside wave [3] of 3.



 
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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