GBPAUD:
- GBPAUD reversed from support level 1.7620
- Likely to rise to resistance level 1.7825
GBPAUD recently reversed up from the support level 1.7620, which is the lower boundary of the tight sideways price range inside which the pair has been moving from the start of May.
The support level 1.7620 was further strengthened by the 20-day moving average and by the 38.2% Fibonacci correction of the earlier upward correction (ii).
GBPAUD can be expected to rise further toward the next resistance level 1.7825 (upper boundary of the active sideways price range).
SP500:
- S&P 500 rising inside wave (iv)
- Likely to reach resistance level 4100.00
S&P 500 index earlier reversed up from the key support level 3900.00, standing near the lower daily Bollinger Band and the support trendline of the daily down channel from January.
The upward reversal from the support level 3900.00 started the active short-term correction (iv).
S&P 500 index can be expected to rise further toward the next resistance level 4100.00 (top of the earlier minor correction (iv)).
Natural Gas:
- Natural gas broke round resistance level 9.0000
- Likely to rise to resistance level 9.65
Natural gas recently broke above the round resistance level 9.0000 (which stopped the earlier minor impulse wave 3 at the start of May, as can be seen below).
The breakout of the resistance level 9.0000 continues the active short-term impulse wave 5 of the multi-month upward impulse wave (C) from December.
Given the strong daily uptrend, Natural gas can be expected to rise further toward the next resistance level 9.65 (target for the end of the active sub-impulse (iii)).
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