The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) cleared the resistance at 77.5 levels. After a week of short-term volatility and pullback the ETF resumed higher towards its possible rectangle chart pattern price target at 79.6 levels. Both the daily and weekly price charts show a steady uptrend.
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Global Equity Markets report started focusing on shorter-term time frame chart pattern developments as well as long-term patterns. Short-term chart patterns are those that cover anything from 1 month to 3 months (according to Tech Charts Research), whereas longer-term patterns are from 4 months to 24 months. Short-term chart patterns are featured on daily scale price charts, and it is important to see and understand the price dynamics of those in comparison with weekly scale breakouts. We will dedicate this webinar to several short-term examples on different chart patterns such as cup & handle, ascending triangle, descending triangle, rectangle, H&S bottom, and compare those with similar developments on weekly scale price charts. I hope to touch on risk-reward, price target calculations, and breakout confirmation levels on all those chart pattern breakout examples.
Scheduled for: Thursday, December 12, 8:30 am mountain (register below)
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) found resistance at 77.5 levels. Last week's bearish shooting star candlestick pattern proved to be a short-term correction signal. Following a quick sell-off (intra-week) the ETF recovered to test its previous high.
Is the short-term correction over? Read More
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) found resistance at 77.5 levels. This week's price action formed a shooting star candlestick around the resistance area. The shooting star is common candlestick that indicates the potential for a bearish reversal. This candlestick is characterized by a small body with a long upper wick and a short or nonexistent lower wick. In order to be classified as a shooting star, the upper wick of the candlestick should be at least twice as long as its body. The shooting star candlestick looks very similar to the inverted hammer candlestick. The defining difference is that shooting stars are bearish reversal signals at the top of of uptrends, while inverted hammers are bullish reversal signals at the bottom of downtrends.
The 5 month-long rectangle price target stands at 79.6 levels. Breakout above the minor resistance can push the ETF towards the price target at 79.6. Both the daily and weekly price charts show a steady uptrend. Unless we see a strong breakout above this week's high, ACWI ETF can trade between 74.8 and 77.5 levels in the following weeks.
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Dear Tech Charts members,
As mentioned in our previous communications I've been working on bringing more short-term chart pattern setups into your attention from the Global equity markets. In doing so I'm paying close attention to have liquid names. Tech Charts Global Equity markets report featured mostly chart pattern in duration between 4 months - 24 months. We are now focusing as well on chart patterns in duration between 2 months - 4 months featured on daily scale. I will continue to bring those opportunities either via Interim Updates or the weekly Global Equity Markets report. Below are 3 additions to Tech Charts watchlist that may experience breakouts in the last trading day of the week even though it will be a short session. These charts will also be included in the weekly update.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) continued to trade close to the resistance level at 77.5 levels. The ETF found short-term resistance around 77.5 levels. The 5 month-long rectangle price target stands at 79.6 levels. Breakout above the minor resistance can push the ETF towards the price target at 79.6. Both the daily and weekly price charts show a steady uptrend. 74.8 levels will act as support during any pullback.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remained strong and close to the resistance level at 77.5 levels. The ETF found short-term resistance around 77.5 levels. The 5 month-long rectangle price target stands at 79.6 levels. Breakout above the minor resistance can push the ETF towards the price target at 79.6. Both the daily and weekly price charts show a steady uptrend. 74.8 levels will act as support during any pullback.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) continued higher after breaking out from the 5 month-long rectangle. While the long-term chart pattern can be identified as a H&S continuation and has a much higher price objective the short-term chart pattern is possibly a rectangle and the short-term price target stands at 79.6 levels. This week's price action found resistance at the minor high that stands at 77.5 levels. The ETF might find short-term resistance around 77.5 levels. 74.8 levels will act as support during any pullback.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) confirmed the breakout from the 5 month-long rectangle. While the long-term chart pattern can be identified as a H&S continuation and has a much higher price objective the short-term chart pattern is possibly a rectangle and the short-term price target stands at 79.6 levels. There is another hurdle that the ACWI ETF needs to overcome before reaching all-time highs and that is the minor high that stands at 77.5 levels. The ETF might find short-term resistance around 77.5 levels. 74.8 levels will act as support.
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