Analysis for October 4th, 2013
We may assume that the Index is forming diagonal triangle
pattern inside wave 
. If the price rebounds from the pattern’s lower border, the bulls will return to the market. Right now, I’m staying out of the market.
More detailed wave structure is shown on the H1 chart. The price formed diagonal triangle
pattern inside wave C
. If later the market forms an initial ascending impulse, I’ll open several buy orders.
There is a possibility that Oil finished double three
pattern inside wave (4)
. On the minor wave level, the price formed an initial bullish impulse. After completing a local correction, the instrument is expected to continue moving upwards.
As we can see at the H1 chart, wave 2
may take the form of zigzag
triangle. On the minor wave level, the market is finishing wave [B]
. Most likely, the instrument will continue falling down inside wave [C] of 2
during the day.
RoboForex Analytical Department