Stocks Report: Intel Corporation
Intel broke multiple resistance levels
Likely to rise to 34.00
Intel has been rising sharply in the last few trading sessions inside the 3rd minor impulse wave of the intermediate impulse (3) from the middle of February. The active impulse wave (3) earlier broke the three consecutive resistance levels – 30.00, 31.00 (two previous upward targets set in our earlier forecast for this company) and 32.00. Each of these resistance breakouts accelerated the active minor impulse wave 3. Intel is likely to rise to the next resistance level 34.00 (previous monthly low from December).
Commodities Report: Silver
Silver reversed from resistance zone
Likely to fall to 15.20
Silver continues to fall after the earlier downward reversal from the resistance zone lying between the resistance levels 16.10 and 15.70 (which has reversed earlier waves (i), (iii), (2), (a) and 2, as can be seen from the daily Silver chart below). This resistance zone was further strengthened by the upper daily Bollinger Band and by the 50% and 61.8% Fibonacci correction levels of the previous sharp downward impulse from last May. The downward reversal from this resistance zone completed the previous wave 2. Silver is likely to fall to the next support level 15.20.
Index Report: Deutsche Borse AG German Stock Index
DAX broke round resistance level 10000.00
Further gains likely toward 10200.00 and 10400.00
DAX today broke through the resistance zone lying between the round resistance level 10000.00 and the 50% Fibonacci correction of the previous sharp downward impulse from the end of November. The breakout of this resistance zone is likely to accelerate the active C-wave of the intermediate ABC correction (4) from the start of February. DAX is likely to rise further to the next resistance levels 10200.00 and 10400.00 (target price for the completion of the active C-wave). Buy stop-loss can be placed below 10000.00.
Forex Report: GBP/CAD
GBP/CAD broke pivotal support level 1.8650
Likely to fall to 1.8400 and 1.8200
GBP/CAD recently broke through the pivotal support level 1.8650 (which reversed earlier impulse wave 3 at the start of March, as can be seen below). The breakout of this support level accelerated the active minor impulse wave 5 – which belongs to the intermediate (C)-wave from last December (which previously broke the wide daily up channel from last year). GBP/CAD is likely to fall further in the accelerated impulse waves 3 and (C) toward the next sell target at the support level 1.8400 – the breakout of which can lead to further losses toward 1.8200.