Wave Analysis 19.09.2012 (DJIA Index, Crude Oil)

19.09.2012

Analysis for September 19th, 2012

DJIA Index

Djia Index continues forming an ascending impulse in wave [1], on the minor wave level the price is forming the fifth wave. In the near term, we can expect the instrument to continue growing up. The stop on my buy order has been moved into the black.



Yesterday the price completed forming wave [4]. At the moment the instrument is growing up and forming wave [5] of 3. The Index may break the local maximum during the day. The target is still at the level of 13700.



Crude Oil

Oil is currently moving inside the ascending channel. We may assume that the fourth wave has been already finished. In the near term, we can expect the price to start moving upwards again inside wave 5 of (C). The target is still the level of $102 p/b.



Wave [5] of 3 was finished in the form of diagonal triangle pattern. Later the price completed zigzag pattern inside wave 4. On the minor wave level we can see that the instrument has formed an initial impulse inside wave (1). During the day we can expect the price to start growing up and form wave (3) of [1].

Attention!

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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