HY Newsletter – Apple Reached Resistance Level

Newsletter49

Stocks Report: Apple Inc.

Apple reached resistance level 105.00

Likely to rise to 110.00 

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Apple recently broke through the resistance zone lying between the resistance level 105.00 (previous upward target set in our earlier forecast for this company) and the 38.2% Fibonacci correction of the sharp downward impulse wave Ⓐ from the start of November, as can be seen below. The breakout of this resistance zone is likely to intensify the bullish pressure on Apple in the coming trading sessions. Apple is expected to rise further in the active primary impulse wave ③  toward the next strong resistance level 110.00.

 

Commodities Report: Light Sweet Crude Oil (WTI)

WTI broke resistance zone

Likely to rise to 43.30

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WTI recently broke through the resistance zone lying between the round resistance level 40.00 (which was set as the upward target in our previous forecast for this instrument) and the 38.2% Fibonacci correction of the previous primary ABC correction Ⓐ from the start of May. The breakout of this resistance zone is likely to accelerate the active minor impulse wave 3 of the intermediate (C)-wave from February. WTI is likely to rise further toward the next resistance level 43.30.

 

Index Report: S&P 500

S&P 500 rising inside minor ABC correction 2

Further gains likely toward 2080.00

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S&P 500 has been rising sharply in the last few trading sessions – following the earlier breakout of the resistance zone lying between the round resistance level 2000.00 and the 61.8% Fibonacci correction of the previous sharp downward impulse from the start of November. The breakout of this resistance zone accelerated the active minor ABC correction 2 from the middle of February. S&P 500 is likely to rise further to the next resistance level 2080.00 (target price for the completion of the active wave 2).

 

Forex Report: EUR/JPY

EUR/JPY reversed from resistance zone

Likely to fall to 124.00

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EUR/JPY recently reversed down from the resistance zone lying between the pivotal resistance level 127.00 (former major support level which has been repeatedly reversing this currency pair from March of 2015, acting as resistance now after it was broken previously) and the 50% Fibonacci correction of the previous intermediate impulse wave (5). The downward reversal from this resistance zone started the active minor correction 2. EUR/JPY is likely to fall further to the next support level 124.00 (forecast price for the completion of the active wave 2).

 

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