Stocks report by HY Markets

[Mike Lancy]

HYMARKETS Commodities Report: Sugar
• Sugar broke resistance area
• Likely to rise to 0.2400

Sugar recently broke through the resistance area lying between the upper resistance trendline of the wide daily up channel from August of 2015 and the resistance level 0.2300 (which was set as the likely upward target in our earlier forecast for this instrument). The breakout of this resistance area accelerated the active minor impulse wave 3, which belongs to the sharp intermediate impulse wave (5) of the extended primary impulse wave Ⓒ from February. With the accelerating daily Momentum Sugar is likely to rise to the next resistance level 0.2400.
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[Mike Lancy]

HYMARKETS Commodities Report: Light Sweet Crude Oil (WTI)
• WTI broke daily Triangle
• Likely to rise to 49.00

Light Sweet Crude Oil has been rising in the last few trading sessions inside the minor impulse wave 3 – which started earlier - when the price reversed up from the support area lying between the support level 43.30 (low of the earlier minor wave (a)), lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous minor impulse wave 1. The active impulse wave 3 belongs to the intermediate impulse wave (3) from the start of August. Having recently broken the daily Triangle from June - WTI is likely to rise to the next resistance level 49.00 (top of impulse wave 1 from August).
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[Mike Lancy]

HYMARKETS Stocks Report: Google Inc
• Google reversed from long-term resistance level 790.00
• Likely to fall to 771.00

Google recently reversed down from the resistance zone lying between the major, long-term resistance level 790.00 (which reversed the previous impulse waves (3), 1 and 3, as can be seen from the daily Google chart below) and the upper daily Bollinger Band. The downward reversal from this resistance zone stopped the earlier minor impulse wave 5 (which belongs to the intermediate impulse (5) from June). Given the strength of the resistance level 790.00, Google can be expected to correct down further to the next support level 771.00 (low of the earlier waves (a), 4 and (b)).

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[Mike Lancy]

HYMARKETS Stocks Report: Yahoo! Inc.
• Yahoo broke support zone
• Likely to fall to 41.00

Yahoo recently broke through the support zone lying between the support level 42.00 (which reversed the (a)-wave of the active minor ABC correction 2 from the start of September), 38.2% Fibonacci correction of the previous upward impulse from the end of July and the support trendline of the daily up channel from February. The breakout of this support zone is likely to strengthen the bearish pressure on Yahoo in the coming trading sessions. The price is likely to fall to the nearby support level 41.00 (target price for the completion of the active (c)-wave).

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