Stocks Report: Coca-Cola
Coca-Cola broke resistance levels 45.50 and 46.00
Likely to rise to 47.00 and 48.00
Coca-Cola recently rose sharply – breaking through the resistance level 45.50, which was set in our pervious forecast as the likely target for the upward movement of this company. The breakout of this resistance level accelerated the active minor impulse waves (iii) and 3 (which belong to the intermediate impulse wave (3) from January, which earlier broke the major long-term resistance level 45.00) – leading to the latest breakout of the resistance level 46.00. Coca-Cola is likely to rise to the next resistance levels 47.00 and 48.00.
Commodities Report: Silver
Silver broke support level 15.20
Likely to fall to 14.60
Silver recently broke sharply below the support level 15.20, which was set as the expected downward target in our previous forecast for this instrument. The price earlier reversed down from the resistance zone lying between the resistance level 15.50 and the 50% Fibonacci correction of the previous downward impulse (i). The subsequent breakout of the support levels 15.20 and 15.00 is likely to accelerate the active impulse waves (iii) and 3 (which belong to the impulse wave (3) from October). Silver is likely to fall to the next support level 14.60 (low of wave (3)).
Index Report: S&P 500
S&P 500 approached resistance level 2080.00
Likely to rise to 2110.00
S&P 500 has been rising in the last few trading sessions – breaking through the resistance level 2060.00 and closing last Friday near the resistance level 2080.00 (both of these resistance levels were set in our previous forecast as the likely targets for the upward movement of this index). If the price breaks above the resistance level 2080.00 (which reversed the previous waves (a) and 2 in December) – S&P 500 can then rise to the next strong resistance level 2110.00 (top of the primary Ⓑ-wave from November and the target price for the completion of the active impulse wave (3)).
Forex Report: NZD/JPY
NZD/JPY falling inside impulse waves (3) and ③
Likely to fall to 76.00 and 75.00
NZD/JPY recently reversed down sharply from the resistance zone lying at the intersection of the following resistance levels: upper daily Bollinger Band, upper resistance trendline of the daily up channel from February, resistance level 78.00 and the 50% Fibonacci correction of the previous sharp downward impulse from the start of December. The downward reversal from this resistance zone started the active intermediate impulse wave (3) of the primary impulse ③ from last year. NZD/JPY is likely to fall to the next support levels 76.00 and 75.00.
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