Analysis for December 6th, 2012
It looks like after completing a descending wedge
pattern inside wave 
, the Index finished a correction in the form of zigzag
pattern. On the minor wave level the price is forming a descending impulse. In the near term, the instrument is expected to start falling down again.
was finished in the form of diagonal triangle
pattern. It looks like yesterday the price completed flat
pattern inside wave 2
. During the day the bears are expected to push the price towards new minimums.
It looks like Oil has finished double zigzag
pattern inside wave (2)
. Earlier the price completed a descending wedge
pattern inside wave (1)
. The forecast of the price movement is still bearish. Most likely, in the nearest future the instrument will start falling down inside the third wave.
As we can see at the H1 chart, the price is forming a descending impulse inside the first wave. Several days ago Oil finished zigzag
pattern inside wave Y.
During the day the instrument is expected to start moving downwards again.
RoboForex Analytical Department