Analysis for November 7th, 2013
The Index continues growing up; yesterday the bulls broke maximum of the third wave. Most likely, in future the instrument will continue rising, because internal structure of wave  of 1
is far from completion.
More detailed wave structure is shown on the H1 chart. Probably, price is extending wave (3)
. On minor wave level, the instrument is completing the fourth wave. Possibly, soon instrument may start rising inside 5 of (3).
Oil is reversing; it completed impulse inside wave [A]
. Probably, bulls are forming impulse inside wave (A).
I’ve moved stop on my buy order into the black; price is expected to continue growing up.
As we can see at H1 chart, instrument stopped rising near the channel’s upper border. If Oil breaks it, price may start a new correction. Possibly, instrument may reach new local maximum during the day.
RoboForex Analytical Department