Entries by Aksel Kibar

GLOBAL EQUITY MARKETS – November 26, 2022

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average which is acting as resistance at 88.5 levels. This is now the second test of the 200-day average in the same month and the third test in the same year. We will learn shortly if this is another reversion to the mean in a steady downtrend or the beginning of a new uptrend with the breach of strong resistance area. The inflection area is between 88.5 and 89. Failure to clear the strong resistance area can result in a weakness towards the minor low at 85 levels.

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INTERIM UPDATE – November 22, 2022

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I start my research on Mondays and finalize by end of day Thursday. Friday is dedicated to putting all ideas to the report format. During the week I come across good setups and those are featured in the weekly report. However, there are those that pop during the week and is worth bringing to your attention before the week finalizes. Below are the latest additions to Tech Charts watchlist. These charts will also be included in the weekly update.

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GLOBAL EQUITY MARKETS – November 19, 2022

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average which is acting as resistance at 88.5 levels. The ETF recovered above 81.4 levels. Downtrend is intact. March and August were two other times the ETF tested its 200-day average in a downtrend. I will monitor the price action around the long-term average. 88.5-89.5 area is the resistance. Breakout above that range can change the outlook to positive for Global equities.

 

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CRYPTOCURRENCIES – November 13, 2022

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A volatile week that was driven by the unfortunate events that unfolded around FTX. Many charts had bearish setups prior to the FTX collapse. Markets have always been a discounting mechanism. Most of the bearish setups completed with this week's sell-off. Now our focus is on those support levels that are likely to act as resistances. Let's review our charts.
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GLOBAL EQUITY MARKETS – November 12, 2022

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average which is acting as resistance at 88.1 levels. The ETF recovered above 81.4 levels. Downtrend is intact. March and August were two other times the ETF tested its 200-day average in a downtrend. I will monitor the price action around the long-term average. 88.1-90 area is the resistance. Breakout above that range can change the outlook to positive for Global equities.

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FIRST MAJESTIC SILVER CORP (AG.N)

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Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below […]

GLOBAL EQUITY MARKETS – November 5, 2022

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average which is acting as resistance at 88.9 levels. The ETF recovered above 81.4 levels. Downtrend is intact. I'm still not seeing a well-defined reversal chart pattern to call for a bottom reversal.

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CRYPTOCURRENCIES – October 31, 2022

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I pay attention to breakouts/breakdowns through horizontal boundaries. Breakouts through the diagonal boundaries can offer directional movement, though they might not follow the guidelines of classical charting principles. While an initial thrust can take place, it will not be possible to measure price objectives or chart pattern negation levels. With the breakout above 20,500 levels, BTCUSD experienced one of those price actions where there was not much follow through and the pattern most likely is going through some kind of morphing. Let's review some of the recent chart pattern developments on different pairs.
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GLOBAL EQUITY MARKETS – October 29, 2022

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average which is acting as resistance at 89.1 levels. The ETF recovered above 81.4 levels. Downtrend is intact. This week's price action possibly completed a short-term reversal chart pattern. Daily charts below analyze the possible short-term reversal.

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RUSSELL 2000 INDEX (RUT)

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Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below […]