Author Archive for: Aksel Kibar

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. Breakout above 87 levels completed a short-term double bottom and the ETF reached the price target of 92.7 levels. The 200-day average acted as resistance at 93.1 levels. The ETF failed to hold above the neckline at 87 levels. There is still the possibility of a H&S bottom reversal, though not with the symmetry between shoulders. Given the weakness below 87 levels, I view the H&S bottom as a lower probability. Price can test the previous low around 81.4 levels. Downtrend is intact below the 200-day average.

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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. Breakout above 87 levels completed a short-term double bottom with the price target of 92.7 levels. The 200-day average acted as resistance at 93.1 levels. A text-book H&S bottom reversal can develop if the index completes its pull back around 87 levels to form the possible right shoulder. Such price action will form symmetry between left and right shoulders in both time and price scale. I'm now monitoring how the ETF will perform around 87 levels; the neckline of the previous double bottom.

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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. Breakout above 87 levels completed a short-term double bottom with the price target of 92.7 levels. The 200-day average is acting as resistance at 93.4 levels. Price target for the short-term double bottom was met. A text-book H&S bottom reversal can develop if the index pulls back towards 87 levels to form the possible right shoulder. For now I monitor the price action around the 200-day average.

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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. Breakout above 87 levels completed a short-term double bottom with the price target of 92.7 levels. The 200-day average is acting as resistance at 93.5 levels. Price target for the short-term double bottom was met during the week. A text-book H&S bottom reversal can develop if the index pauses around the 200-day average and pulls back to form the possible right shoulder. For now I monitor the price action around the 200-day average.

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I will start this week's update with an exciting opportunity from altcoins and then we will continue with the updates on other pairs. The opportunity is on a weekly scale and has the potential of breaking out to all-time highs from a well-defined ascending triangle.

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