HY Newsletter – Google Reversed From Support Zone

Stocks Report: Google Inc

Google reversed from support zone

Likely to rise to 700.00 

479-Stocks

Google recently reversed up sharply from the support zone lying between the pivotal support level 665.00 (low of the previous minor correction 4 from February), lower daily Bollinger Band and the 50% Fibonacci retracement of the earlier sharp upward impulse from last July (as can be seen below). The upward reversal from this support zone completed the previous intermediate ABC correction (4) from the middle of April. Google is expected to rise further in the active intermediate impulse wave (5) toward the next round resistance level 700.00.

 

Commodities Report: Silver

Silver rising inside accelerated impulse waves 3 and (3)

Further gains likely toward 20.00

479-Commodities

Silver has been rising strongly in the last few trading sessions inside the minor impulse wave 3, which is a part of the intermediate impulse wave (3) from the end of May. The active impulse wave 3 earlier broke through the resistance level 18.00 (which stopped the previous impulse wave (1) in April). The breakout of the resistance level 18.00 accelerated the active impulse wave 3 – which then broke the resistance trendline of the daily up channel from January. Silver is expected to rise further toward the next round resistance level 20.00.

 

Index Report: Dow Jones Industrial Average

Dow Jones Industrial Average rising inside impulse wave (3)

Likely to rise to 18000.00 and 18150.00

479-Indices

Dow Jones Industrial Average recently reversed up sharply from the support zone lying between the support level 17200.00 (previous downward target set in our earlier forecast for this index), lower daily Bollinger Band, 38.2% Fibonacci correction of the previous sharp impulse wave (1) and the support trendline of the daily down channel from the middle of April. The upward reversal from this support zone created the daily Japanese candlestick reversal pattern Bullish Engulfing. The index is likely to rise in the active impulse wave (3) toward the next resistance levels 18000.00 and 18150.00.

 

Forex Report: NZD/USD

NZD/USD reversed from support zone

Likely to rise to 0.7300

479-Forex

NZD/USD has been rising sharply in the last few trading sessions – following the earlier upward reversal from the support zone lying between the support level 0.7000 and the 50% Fibonacci correction of the previous sharp upward impulse from the end of May. The upward reversal from this support zone completed the previous minor correction (ii) of the active impulse wave 3 of the intermediate (C)-wave from January. NZD/USD is expected to rise further to the next resistance level 0.7300 (which reversed the price at the end of June).

 

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