Stocks Report: Bank of America
Bank of America approached strong resistance level 15.00
Likely to rise to 15.50
Bank of America has been rising sharply in the last few trading sessions inside the minor impulse wave 3, which started earlier – when the price reversed up from the pivotal support level 14.00 (former strong resistance level which reversed earlier waves 3 and (A) in March, acting as support now after it was broken by the previous impulse wave 1). Bank of America yesterday closed near the major resistance level 15.00. If the price breaks above 15.00 – Bank of America can then rise to the next resistance level 15.50. Strong support remains at the aforementioned support level 14.00.
Commodities Report: Silver
Silver reached resistance level 17.50
Likely to rise to 17.75
Silver today reached the resistance level 17.50, which was set as the likely upward target in our earlier forecast for this instrument. The price previously broke through the resistance zone lying at the intersection of the round resistance level 17.00 and the upper resistance trendline of the daily up channel from January (which has enclosed the previous waves (A) and (B) of the active primary ABC correction Ⓒ). Silver is likely to rise to the next resistance level 17.75 (previous multi-month high from May of 2015).
Index Report: Nikkei 225
Nikkei 225 broke strong resistance level 17150.00
Likely to rise to 18000.00
Nikkei 225 continues to rise inside the minor impulse wave 3 – which today broke the strong resistance level 17150.00 (which had reversed the price multiple times during March, as can be seen below). The breakout of this resistance level follows the earlier breakout of the resistance zone lying at the intersection of the downward sloping resistance trendline from last December and the upper resistance trendline of the daily Triangle from January. The breakout of this resistance zone accelerated the active impulse wave 3. Nikkei 225 is likely to rise to the next round resistance level 18000.00.
Forex Report: AUD/CHF
AUD/CHF broke resistance level 0.7540
Likely to rise to 0.7700
AUD/CHF recently broke through the pivotal resistance level 0.7540, which stopped the previous waves (A) and 1 and which was set in our earlier forecast as the likely target for the upward movement of this currency pair. The breakout of this resistance level continues the active minor impulse wave 3 – which started earlier – when the pair reversed up from the support zone near the support level 0.7200. AUD/CHF is likely to rise further in the active impulse waves 3 and (C) toward the next resistance level 0.7700. Buy stop-loss can be placed below the recently broken price level 0.7540.