Analysis for August 28th, 2014
DJIA Index
Index is still forming diagonal triangle pattern inside wave 5 of (A). Earlier, the rice completed a long extension inside the third wave. Possibly, during the day the market may reach a new high and then start a new correction.
Crude Oil
It looks like Oil is about to finish an ascending zigzag pattern [4] with triangle pattern (B) inside it. In the near term, the price is expected to rebound from the upper border of the descending channel. In this case, bears will return to the market.
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