Analysis for September 9th, 2013
The Index is still being corrected. Earlier the price completed a bearish impulse inside wave [A]
. Later, after finishing wave [B]
, the instrument is expected to make a reverse downwards and start forming an initial impulse.
More detailed wave structure is shown on the H1 chart. After completing wedge
pattern inside wave (A)
, the instrument formed flat
pattern inside wave (B).
Most likely, in the nearest future, the price will start a new ascending movement inside wave (C) of [B]
Oil is growing up. After completing skewed triangle
pattern inside wave (4)
, the market started forming an initial ascending impulse inside the fifth one. Right now, the price is moving upwards inside the wave 3
. During the next several days, the instrument may reach a new maximum.
As we can see at the H1 chart, the price is extending
. Right now, the market is being corrected. Later, Oil is expected to start a new ascending movement inside wave  of 3
RoboForex Analytical Department