Analysis for December 5th, 2012
We may assume that the Index has already finished forming zigzag
pattern inside wave 
. On the minor wave level the price is forming a descending impulse inside wave (1)
. The instrument may start falling down again during the day.
At the H1 chart we can see that wave (C) of 
was finished in the form of diagonal triangle
pattern. After completing an initial impulse, the price started a corrective movement, which is taking the form of flat
pattern. In the near term, we can expect the Index to start forming the third wave.
It looks like Oil has already finished double zigzag
pattern inside wave (2)
. Earlier the price completed a descending wedge
pattern inside the first wave. Most likely, the instrument will continue falling down inside wave (3)
during which the bears may reach the level of $75 per barrel of Light Sweet.
As we can see at the H1 chart, several days ago the price finished zigzag
pattern inside wave Y.
Right now the market is forming an initial descending impulse inside wave 1
. In the near term, the instrument may continue moving downwards.
RoboForex Analytical Department