HY Newsletter – Brent Crude Oil Broke Resistance Zone


Stocks Report: Apple Inc.

Apple rising inside impulse waves 3 and (3)

Likely to rise to 111.80 and 114.00 


Apple recently corrected down to the support zone lying between the support level 108.00 and the 38.2% Fibonacci correction of the previous sharp upward impulse from the start of March (which earlier broke the resistance level 110.00, which was set in our previous forecast as the likely upward target for this company). The upward reversal from this support zone continues the active minor impulse wave 3, which belongs to the sharp intermediate impulse (3) from January.  Apple is likely to rise further to the next resistance levels 111.80 and 114.00.


Commodities Report: Brent Crude Oil

Brent Crude Oil broke resistance zone

Likely to rise to 46.40


Brent Crude Oil recently rose sharply – breaking through the resistance zone lying between the pivotal resistance level 42.00 (which reversed earlier A-wave of the active intermediate ABC correction (2) from January), upper resistance trendline of the daily down channel from last year and the 61.8% Fibonacci correction of the previous sharp downward impulse wave from the start of November. Brent Crude Oil is likely to rise further in the active C-wave toward the next resistance level 46.40 (high of the previous wave (iv) from November).


Index Report: FTSE 100

FTSE 100 broke resistance levels 6220.00 and 6300.00

Likely to rise to 6450.00


FTSE 100 continues to rise after the earlier breakout of the resistance levels 6220.00 (upper boundary of the narrow price range inside which the index has been trading from March; lower boundary of this price range stands at 6060.00) and 6300.00 (previous upward target set in our earlier forecast for this index). The breakout of these resistance levels is likely to accelerate the active (C)-wave of the primary ABC correction Ⓑ from February. FTSE 100 is likely to rise further to the next resistance level 6450.00 (which reversed earlier waves B and (b)).


Forex Report: EUR/AUD

 EUR/AUD falling inside minor correction 2

Likely to fall to 1.4660 and 1.4460


EUR/AUD continues to fall inside the minor correction 2, which started earlier – when the pair reversed down from the resistance zone lying between the resistance level 1.5200, upper daily Bollinger Band and the 50% Fibonacci correction of the previous downward impulse from February, as can be seen below. The pair is likely to fall further to the next support level 1.4660 – the breakout of which can lead to further losses toward the next strong support level 1.4460 (which stopped the previous waves ② and (2)).


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