GLOBAL EQUITY MARKETS – April 8, 2023
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is looking for direction. So far price action has been volatile around the 200-day average. After last week's strong rally above the 200-day average, I started weighing the possibility of a large scale H&S bottom reversal with the neckline standing at 93.3 levels. The ETF might be completing the right shoulder of a multi-month long H&S bottom reversal. There has been several tests of the horizontal resistance at 93.3 levels.




