Stocks Report: Microsoft Corp.
Microsoft reached resistance level 55.00
Likely to rise to 56.70
Microsoft yesterday closed above the resistance level 55.00, which was set in our previous forecast as the likely target for the upward movement of this company. The price previously rose with the upward gap inside the minor impulse wave 3 which belongs to the intermediate impulse (3) of the primary upward impulse ③ from February. Given the rising daily Momentum – Microsoft can be expected to rise further in the active impulse waves 3, (3) and ③ toward the next strong resistance level 56.70 (which reversed the price twice in December).
Commodities Report: Brent Crude Oil
Brent Crude Oil completed primary ABC correction ②
Likely to fall to 38.50 and 35.90
Brent Crude Oil recently reversed down from the resistance zone lying at the intersection of the pivotal resistance level 42.50 (former strong support level which reversed the previous intermediate impulse wave (3) in August), 61.8% Fibonacci correction of the previous sharp downward impulse from November and the upper daily Bollinger Band. The downward reversal from this resistance zone completed the previous primary ABC correction ② from January. The price is likely to fall to the next support levels 38.50 and 35.90
Index Report: Nikkei 225
Nikkei 225 falling inside intermediate impulse wave (3)
Likely to fall to 16000.00 and 15500.00
Nikkei 225 continues to fall inside the intermediate impulse wave (3) – which started earlier – when the index reversed down from the resistance zone lying between the round resistance level 17000.00, upper daily Bollinger Band and the 50% Fibonacci correction of the previous downward impulse from the middle of December. This resistance zone also earlier reversed previous waves 3, 5, ②, A and C – as can be seen below. Nikkei 225 is likely to fall in the active impulse wave (3) toward the next support levels 16000.00 and 15500.00.
Forex Report: EUR/USD
EUR /USD broke resistance level 1.1370
Likely to rise to 1.1500
EUR/USD continues to rise after the earlier breakout of the resistance level 1.1370 (which stopped the previous intermediate (A)-wave in February, as can be seen below). The breakout of this resistance level is likely to accelerate the 3rd impulse wave 3 of the active intermediate (C)-wave, which belongs to the primary ABC correction ② from the start of December. The active impulse wave 3 started earlier – when the price reversed up from the support zone near the support level 1.1150. EUR/USD is likely to rise to the next resistance level 1.1500.