Stocks Report: Apple Inc.
Apple broke support zone between 95.00 and 92.30
Likely to fall to 90.00 and 87.30
Apple recently broke through powerful support zone between price levels 95.00 and 92.30 (which has been repeatedly reversing the price from August of 2015, as can be seen from the daily Apple chart below). The breakout of this support zone is likely to accelerate the active minor impulse wave 3, which belongs to the intermediate (C)-wave from last November. Apple is likely to fall further to the next round support level 90.00, the breakout of which can lead to further losses toward 87.30. Strong resistance zone now stands between 95.00 and 92.30.
Commodities Report: Natural Gas
Natural Gas reversed from resistance zone
Likely to fall to 2.030
Natural Gas continues to decline – following the earlier downward reversal from the resistance zone lying between the resistance level 2.200 (which has been repeatedly reversing the price from April), upper daily Bollinger Band, resistance trendline of the daily down channel from 2015 and the 61.8% Fibonacci correction of the previous intermediate (C)-wave from January. The resistance level 2.200 is also the upper boundary of the narrow price range the price has been trading in from last month. Natural Gas is likely to fall to the support level 2.030 (lower boundary of the aforementioned price range).
Index Report: HANG SENG
HSCE broke pivotal support level 8500.00
Likely to fall to 8000.00
HSCE has been falling in the last few trading sessions inside the minor impulse waves (iii) and 3 – which earlier broke the pivotal support level 8500.00 (low of the B-wave of the previous minor ABC correction 2 from the middle of February) and the support trendline of the daily up channel which has enclosed the aforementioned ABC correction 2. The active impulse waves (iii) and 3 belong to the extended intermediate impulse wave (3) from October of 2015. HSCE is likely to fall further toward the next round support level 8000.00.
Forex Report: AUD/CAD
AUD/CAD falling inside impulse wave 3
Likely to fall to 0.9300
AUD/CAD continues to fall inside the accelerated minor impulse wave 3 – which earlier broke through the pivotal support level 0.9620 (low of the previous intermediate impulse (1)) and the support zone lying between the support level 0.9550 and the 61.8% Fibonacci correction of the previous primary ABC correction Ⓑ from the start of September. The breakout of theses support levels intensified the bearish pressure on this currency pair. AUD/CAD is likely to fall further to the next pivotal support level 0.9300 (target price calculated for the completion of impulse 3).