HY Newsletter – Sugar Rising Inside Impulse Waves

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Stocks Report: Exxon Mobil Corp

Exxon reversed from support zone

Likely to rise to 90.00 

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Exxon recently reversed up with the daily Japanese candlestick reversal pattern Hammer from the support zone lying between the support level 87.60 (former major long-term resistance level which stopped the earlier (A)-wave in November of 2015, acting as support now after it was broken by the previous upward impulse (i)), lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous upward impulse from April. Exxon is likely to rise further to the next buy target at the round resistance level 90.00 (which reversed earlier minor impulse wave (i)).

 

 

Commodities Report: Sugar

Sugar rising inside impulse waves 3, (3) and Ⓒ

Likely to rise to 0.1850 and 0.1900

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Sugar has been rising sharply in the last few weeks inside the intermediate impulse wave (3) from the middle of March. The active impulse wave (3) (which belongs to the primary Ⓒ-wave from January) stared earlier – when the price reversed up from the pivotal support level 0.1400, as can be seen below. Sugar previously broke through the resistance zone lying between the resistance level 0.1650 and the resistance trendline of the wide down channel from 2014 – which accelerated the active waves 3, (3) and Ⓒ. Sugar is likely to rise to the next resistance levels 0.1850 and 0.1900.

 

Forex Report: AUD/NZD

AUD/NZD falling inside minor impulse wave (iii)

Likely to fall to 1.0550

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AUD/NZD continues to fall inside the minor impulse wave (iii), which belongs to the longer-term impulse waves 3 and (3). The active impulse wave (iii) started earlier – when the pair reversed down from the resistance zone lying between the resistance level 1.0780 (which also previously reversed earlier correction (iv)) and the 50% Fibonacci correction of the previous downward impulse from the start of May. AUD/NZD is likely to fall further toward the next strong support level 1.0550 (which previously reversed the price sharply in January, as can be seen below).

 

Index Report: Dow Jones Industrial Average

Dow Jones Industrial Average reversed from support zone

Likely to rise to 17941.00 and 18120.00

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Dow Jones Industrial Average recently reversed up from the support zone lying at the intersection of the 38.2% Fibonacci correction of the previous minor impulse wave 1 and the former resistance trendline of the recently broken daily down channel from April (acting as support now after it was broken by the aforementioned minor impulse wave 1). The upward reversal form this support zone started the active impulse wave 3, which belongs to the intermediate impulse wave (3) from May. The index is likely to rise to the next resistance levels 17941.00 (top of wave 1) and 18120.00 (top of wave (1)).

 

 

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