HY Newsletter – FTSE 100 Reversed From Support Zone

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Stocks Report: JD.com, Inc.

JD reversed from resistance zone

Likely to fall to 22.00 

469-Stocks

JD recently reversed down from the resistance zone lying between the resistance level 24.50, upper daily Bollinger Band, 38.2% Fibonacci correction of the previous sharp downward impulse from the middle of April and the resistance trendline of the daily up channel from the middle of May. The downward reversal from this  resistance zone started the active minor impulse wave (c) – which recently broke the aforementioned up channel. JD is likely to fall further to the next major support level 22.00 (which has been reversing the price from August of 2015).

 

Commodities Report: Natural Gas

Natural Gas breaks  multiple resistance levels

Likely to rise to 2.490 and 2.570

469-Commodities

Natural Gas opened this week with the upward gap – following the earlier breakout of the resistance trendline of the daily up channel from the start of March. The breakout of this daily up channel accelerated the active intermediate (C)-wave, which belongs to the primary ABC correction ② from the start of March. The price earlier broke the resistance zone lying between the resistance level 2.200 (which reversed earlier waves (A), (b) and B) and 61.8% Fibonacci correction of the previous downward impulse from January. Natural Gas is likely to rise to the next resistance levels 2.490 and 2.570.

 

Index Report: FTSE 100

FTSE 100 reversed from support zone

Likely to rise to 6300.00 and 6430.00

469-Indices

FTSE 100 recently reversed up from the support zone lying between the support level 6200.00 (former resistance level which was set as the expected upward target in our previous forecast for this index) and the 38.2% Fibonacci retracement of the previous sharp upward (b)-wave from the middle of May. The upward reversal form this support zone stopped the previous (c)-wave of the active ABC correction (B) from April. FTSE 100 is likely to rise to the next resistance level 6300.00 – the breakout of which can lead to further gains toward 6430.00 (top of the earlier (A)-wave).

 

Forex Report: EUR/GBP

EUR/GBP rising inside intermediate impulse wave (1)

Likely to rise to 0.7920

469-Forex

EUR/GBP has been rising in the last few trading sessions inside the intermediate impulse wave (1), which earlier broke the resistance trendline of the daily down channel from April (which intensified the bullish pressure on this currency pair). The active impulse wave (1) started at the end of May – when the pair reversed up from the support zone lying between the support level 0.7560, lower daily Bollinger Band, 50% Fibonacci correction of earlier upward impulse from 2014 and the support trendline of the aforementioned down channel. EUR/GBP is likely to rise to the next resistance level 0.7920 (top of the previous wave (B)).

 

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