Analysis for November 20th, 2013
Ascending trend continues. Probably, Index right now is forming bullish impulse in wave  of 1
. After completing local correction, price is expected to continue growing up inside wave (5)
More detailed new wave structure is shown on H1 chart. It looks like price is completing the fourth wave inside wave 
. Possibly, instrument may reach new maximum during Wednesday.
In case of Oil, bearish trend continues. Most likely, during the next several days price will continue falling down inside the fifth wave. Later, instrument may start new correction, which may result in quite deep pullback.
As we can see at the H1 chart, Oil is forming diagonal triangle
pattern inside wave (5)
. In the near term, instrument may continue falling down inside the third wave, that’s why I’m holding my sell orders.
RoboForex Analytical Department