The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is trading well above its 200-day average at 150.90 levels. Breakout above 158.5 levels is resuming the uptrend above the long-term average. The benchmark possibly completed a H&S failure with the breach of the highest level for the right shoulder. Price target for the H&S top failure stands at 166 levels. 160-158.5 area becomes the new short-term support. After this week's volatility, price managed to remain inside the channel.
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BTCUSD consolidating in a tight range right below resistance at 82.8K. ETH/BTC shows signs of strength by completing a short-term bottom reversal. Breakout from the channel favors ETH over BTC in the short-term.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is trading well above its 200-day average at 150.50 levels. Breakout above 158.5 levels is resuming the uptrend above the long-term average. The benchmark possibly completed a H&S failure with the breach of the highest level for the right shoulder. Price target for the H&S top failure stands at 166 levels. 160-158.5 area becomes the new short-term support. The ETF is possibly forming a bull flag as part of its pullback towards the support area between 160-158.5. Breakout from the short-term consolidation can resume the uptrend towards 166 levels.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is trading well above its 200-day average at 150.11 levels. Breakout above 158.5 levels is resuming the uptrend above the long-term average. The benchmark possibly completed a H&S failure with the breach of the highest level for the right shoulder. Price target for the H&S top failure stands at 166 levels. 160-158.5 area becomes the new short-term support. The ETF is possibly forming a bull flag as part of its pullback towards the support area between 160-158.5. Breakout from the short-term consolidation can resume the uptrend towards 166 levels.
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BTCUSD broke its resistance at 67.2K resistance after rebounding from support at 60K. ETH/BTC shows signs of strength by completing a short-term bottom reversal. Breakout from the channel favors ETH over BTC in the short-term.
Tech Charts Members,
We continue with our Breakout Room meetings to discuss charts of your interest. This meeting's scheduling targets Americas & Europe members. I will share my screen and will pull up chart of your request and review patterns and opportunities from the perspective of classical charting principles. We had several meetings that were a success and we got the chance to review so much in the allocated time. I hope this time as well we will cover as many charts and questions as possible.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is trading well above its 200-day average at 149.56 levels. Breakout above 158.5 levels is resuming the uptrend above the long-term average. The benchmark possibly completed a H&S failure with the breach of the highest level for the right shoulder. Price target for the H&S top failure stands at 166 levels. 160-158.5 area becomes the new short-term support.
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