Analysis for December 5th, 2013
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]
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