Wave Analysis 01.05.2014 (DJIA Index, Crude Oil)

Analysis for May 1^st, 2014

DJIA Index

After completing double three pattern inside wave [2], Index started growing up again. Possibly, instrument may reach new historic maximum while forming wave (3) of [3]. I’ve got three buy orders, with stop in the black.



More detailed wave structure is shown on H1 chart. After finishing zigzag pattern inside wave (2), Index formed bullish impulse inside the first wave. Most likely, in the nearest future price will continue growing up.

Crude Oil

I’ve been able to move stop on my yesterday’s order into the black. After completing local correction, instrument is expected to continue falling down. Minimum of wave 1 may be broken quite soon.



As we can see at the H1 chart, instrument is forming extension inside wave [3]. On minor wave level, market is about to complete the second wave. In the near term, instrument is expected to continue falling down inside the third wave.



 
RoboForex Analytical Department