HY Newsletter – Apple reversed from strong support zone

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Stocks Report: Apple Inc

Apple reversed from strong support zone

Likely to rise to 100.00 

438-Stocks

Apple recently reversed up from the strong support zone lying between the support levels 95.00 and 92.50 (which previously stopped the earlier sharp corrective waves ② and (2), as you can see from the daily Apple chart below). This support zone was further strengthened by the lower daily Bollinger Band. The latest upward reversal from this support area completed the previous minor corrective wave 2. Apple is likely to rise further in the active impulse waves 3 and (3) toward the next round resistance level 100.00.

 

Commodities Report: Silver

Silver falling inside intermediate impulse wave (3)

Likely to fall to 14.60

438-Commodities

Silver continues to fall inside the 3rd intermediate impulse wave (3), which belongs to the primary impulse wave ③, which started previously – when the price reversed down with the daily Japanese candlesticks reversal pattern Evening Star from the resistance zone lying between the pivotal resistance level 16.00, upper daily Bollinger Band and the resistance trendline of the wide daily down channel from last year. Silver is currently approaching the support level 15.00. If the price breaks below 15.00 – Silver can then fall to the next support level 14.60.

 

Index Report: S&P 500

S&P 500 broke resistance level 16500.00

Likely to rise to 17000.00

438-Indices

S&P 500 continues to rise inside the 3rd minor impulse wave 3 – which previously broke the resistance level 16500.00 (which stopped the previous minor impulse wave 1 in January, as can be seen below). The breakout of this resistance level accelerated the active impulse wave 3, which started earlier this month – when the index reversed up with the daily Japanese candlesticks reversal pattern Bullish Engulfing from the pivotal support level 15600.00. S&P 500 is likely to rise further to the next round resistance level 17000.00.

 

Forex Report: NZD/JPY

NZD/JPY reversed from support zone

Likely to rise to 78.60

438-Forex

NZD/JPY recently reversed up sharply from the support zone lying between the pivotal support level 74.00 (which has been reversing this currency pair from the end of August) and the lower daily Bollinger Band. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Morning Star, as can be seen below. Given the strength of the support level 74.00 – NZD/JPY is likely to rise further toward the next resistance level 78.60 (intersecting with the 50% Fibonacci correction of the previous downward impulse (1) from the start of December).

 

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