HY Newsletter – Yahoo Rising Inside C-wave

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Stocks Report: Yahoo! Inc

Yahoo rising inside C-wave

Likely to rise to 36.00 and 37.10 

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Yahoo has been rising in the last few trading sessions inside the C-wave of the intermediate ABC correction (2) from the start of February. The active C-wave started earlier this month – when the price reversed up from the support zone lying between the support level 32.00 and the former upper resistance trendline of the recently broken daily down channel from April of 2015 (acting as support now after it was broken in February). Yahoo is likely to rise to the next resistance levels 36.00 (which reversed earlier wave ②) and 37.10 (target price for the completion of the active wave (2)).

 

Commodities Report: Sugar

Sugar broke pivotal resistance level 0.1570

Likely to rise to 0.1650

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Sugar recently broke through the pivotal resistance level 0.1570 (former upper boundary of the sideways price range inside which the price has been trading from November to January, as can be seen from the daily Sugar chart below). The breakout of this resistance level is likely to accelerate the active minor impulse wave 3 – which belongs to intermediate (C)-wave from February which started when Sugar reversed up from the support zone near the support level 0.1270. Sugar is likely to rise to the next resistance level 0.1650.

 

Index Report: Dow Jones Industrial Average

Dow Jones Industrial Average rising inside impulse waves 5 and (3)

Further gains likely toward 17900.00

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Dow Jones Industrial Average has been rising sharply in the last few trading sessions – breaking through the resistance levels 17100.00 and 17400.00 (previous upward target set in our earlier forecast for this index). The breakout of these resistance levels accelerated the active minor impulse wave 5 – which belongs to the sharp intermediate impulse wave (3) from the major support level 15600.00 (which reversed the index in February). The price is likely to rise to the next major resistance level 17900.00 (forecast price for the termination of the active impulse wave (3)).

 

Forex Report: GBP/CHF

GBP/CHF falling inside minor impulse wave (iii)

Likely to fall to 1.3900 and 1.3740

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GBP/CHF continues to fall inside the minor impulse wave (iii) – which started earlier – when the pair reversed down from the resistance zone lying at the intersection of the resistance level 1.4260 (which reversed the price in the middle of February), 50% Fibonacci correction of the previous downward impulse wave from the start of last month and the resistance trendline of the daily down channel from December. GBP/CHF is likely to fall further toward the next support level 1.3900 – the breakout of which can lead to further losses toward 1.3740.

 

 

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