Stocks Report: Tesla Motors, Inc.
Tesla Motors broke major resistance level 235.00
Likely to rise to 270.00
Tesla Motors recently broke sharply above the major resistance level 235.00 (which has been reversing the price from the end of last November, as can be seen from the Tesla Motors chart below). The breakout of this resistance level 236.00 accelerated the active primary impulse wave ③ – which started earlier- from the support zone lying between the support level 220.00, 38.2% Fibonacci correction of the previous upward impulse from March and the upper channel line of the daily down channel form July. Tesla Motors is likely to rise to the next resistance level 270.00.
Commodities Report: Natural Gas
Natural Gas reversed from resistance zone
Likely to fall to 1.8600
Natural Gas recently reversed down from the resistance zone lying between the resistance level 2.000, upper daily Bollinger Band, 50% Fibonacci correction of the previous intermediate impulse wave (1) and the upper resistance trendline of the daily up channel from the start of March. The downward reversal from this resistance zone created the daily Japanese candlestick reversal pattern Falling Star – which completed the previous intermediate ABC correction (2). Natural Gas is likely to fall to the next support level 1.8600.
Index Report: Nikkei 225
Nikkei 225 broke round support level 16000.00
Likely to fall to 15000.00
Nikkei 225 recently broke though the round support level 16000.00 (which was set as the likely downward target in our previous forecast for this index). The breakout of this support level accelerated the active intermediate impulse wave (3) – which belongs to the primary downward impulse wave ③ from the middle of March. The index is currently trading close to the support level 15500.00 (low of the previous (B)-wave from February). If the price breaks below 15500.00 – Nikkei 225 can then fall to the next support level 15000.00 (which stopped the previous wave ①).
Forex Report: CAD/JPY
CAD/JPY reversed from resistance zone
Likely to fall to 82.00
CAD/JPY has been falling in the last few trading sessions inside the minor correction (ii) – which started earlier – when the pair reversed down from the resistance zone lying at the intersection of the following resistance levels: pivotal resistance level 87.00 (which reversed the previous intermediate (A)-wave at the end of January), upper daily Bollinger Band, resistance trendline of the daily down channel from June and the 61.8% Fibonacci correction of the previous downward impulse from December. CAD/JPY is likely to fall to the next support level 82.00.