Wave Analysis 05.12.2013 (DJIA Index, Crude Oil)


Analysis for December 5th, 2013

DJIA Index

Index is still being corrected. Possibly, wave (2) is taking the form of zigzag pattern. After local correction, price may move downwards for a while inside wave C of (2).

More detailed new wave structure is shown on H1 chart. Yesterday price completed bearish impulse inside wave [A] and started new correction. Probably, during the day instrument may grow up a little bit inside wave (C) of [B].

Crude Oil

Oil is being corrected quite fast. It looks like price completed impulse inside wave [A] and right now is moving upwards inside wave (A). In the nearest future, instrument may continue growing up.

As we can see at the H1 chart, instrument is starting the fifth wave inside wave (A). Yesterday, price completed wave 4, after which bulls formed initial ascending impulse. Right now, I’m trading very carefully and have only one buy order.

RoboForex Analytical Department


Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.