HY Newsletter – Gold Broke Support Level

Microsoft Corp

Microsoft rising inside impulse waves 5 and (3)

Likely to rise to 55.00




Microsoft has been rising in the last few trading sessions – breaking through the resistance level 52.60, which was set in our previous forecast as the likely target for the upward movement of this company. The price earlier corrected down from the strong resistance level 55.00 (high of the previous (B)-wave) to the support zone lying between the support level 53.00 and the 38.2% Fibonacci correction of the previous upward impulse from February – from where Microsoft immediately reversed up. The price is likely to rise in the active impulse waves 5 and (3) toward the aforementioned resistance level 55.00.


Commodities Report: Gold

Gold broke support level 1220.00

Likely to fall to 1200.00


Gold continues to fall after the earlier breakout of the support level 1220.00, which was set as the likely downward target in our previous forecast for this instrument. The breakout of this support level is likely to accelerate the active (c)-wave of the minor B-wave of the intermediate ABC correction (2) from the start of December. Gold is likely to fall further in the active waves (c) and B toward the next support level 1200.00. Sell stop-loss can be placed above the recently-broken price level 1220.00.


Index Report: Hang Seng Index

Hang Seng Index reversed from pivotal resistance level 21000.00

Likely to fall to 20000.00


Hang Seng Index continues to fall inside the minor impulse wave 3, which started previously – when the price reversed down from the resistance zone lying between the pivotal resistance level 21000.00 (former support level which stopped the previous impulse wave (i) in December, acting as resistance now after it was broken), upper daily Bollinger Band, 50% Fibonacci correction of the earlier impulse wave 1 and the resistance trendline of the daily down channel from August. Hang Seng Index is likely to fall to the next round support level 20000.00.


Forex Report: USD/CHF

USD/CHF rising inside intermediate (C)-wave

Likely to rise to 0.9800 and 0.9900


USD/CHF continues to rise inside the intermediate (C)-wave, which stared earlier this month – wen the pair reversed up from the support zone lying at the intersection of the following support levels: the lower daily Bollinger Band, 61.8% Fibonacci correction of the previous upward impulse from August, lower support trendline of the wide weekly up channel from last May and the support trendline of the more recent daily down channel from November. USD/CHF is likely to rise further toward the next resistance levels 0.9800 and 0.9900.


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