ISHARES MSCI FRONTIER 100 INDEX ETF (FM)

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 and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features from the review section iShares MSCI Frontier 100 Index ETF (FM).

The benchmark for the Frontier markets, the iShares MSCI Frontier 100 ETF (FM) is possibly forming a symmetrical triangle that will act as a launching pattern for the H&S bottom reversal. The symmetrical triangle is forming around the 200-day moving average, a setup that I usually look for. Completion of the month-long symmetrical triangle will push the price above the long-term average and also clear the horizontal resistance (neckline for H&S bottom) at 29 levels. (Data as of 6:00 pm CET /April 9, 2019)

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