Analysis for October 10th, 2012
It looks like a correction is now coming to a major wave level. Wave (5) of 
was completed a bit reduced. We may assume that right now the price is forming flat
pattern inside wave 
. In the near term, the instrument may continue falling down inside wave (C)
More detailed wave structure is shown on the H1 chart. It looks like the price is forming a descending impulse inside wave (C).
On the minor wave level the Index is forming the third wave. The instrument is expected to break a local minimum during the next several days
Oil continues forming an impulse inside wave 
. Earlier the price finished zigzag
pattern inside wave 2.
Most likely, the price will continue growing up in the nearest future. The target remains at the level of $95 per barrel of Light Sweet.
As we can see at the H1 chart, Oil is forming an extension
inside wave (3)
. On the minor wave level the price is forming the fourth wave. Later the instrument is expected to finish a corrective movement and start moving upwards inside wave 5 of (3)
RoboForex Analytical Department