iShares MSCI UAE Capped ETF

The Fund seeks to track the investment results of the MSCI All UAE Capped Index, which is designed to measure the equity market performance in the United Arab Emirates. The Fund generally invests at least 80% of its assets in securities of the underlying index or in depository receipts representing securities of the underlying index. The ETF is listed on the Nasdaq Stock Exchange. Price chart possibly formed a 15 month-long H&S continuation or a rectangle with the strong horizontal boundary standing at 17.75 levels. Last 6 month's price action can also be identified as a rectangle; another short-term consolidation, usually acting as a preparation for a breakout. A daily close above 18.10 levels will confirm the breakout from the multi-month trading range with the chart pattern price target of 20 levels. Top 10 holdings of the iShares MSCI UAE Capped ETF is compiled in a table below. Also you can find below some examples of H&S continuation chart patterns that Tech Charts Global Equity Markets reports featured in the past issues.

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There is enough technical evidence that emerging markets found strong resistance around the current levels. The MSCI EM USD price index tested its decade-long trend line and also the upper boundary of its year-long trend channel. However, it is still early to call for a possible reversal from the strong resistance area. MSCI EM index is possibly forming a decade-long symmetrical triangle.

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ISHARES INTL PREFERRED STOCK ETF (IPFF.K) formed an 18 month-long ascending triangle. IPFF.K has a well-defined horizontal resistance that was tested several times over the course of the chart pattern. Strong horizontal boundary stands at 17.45 levels. Last 5 month's price action can be identified as a rectangle. The 5 month-long rectangle is acting as a launching pattern (learn more about launching patterns - Video Tutorial). The daily close above 17.80 levels confirmed the breakout from the multi-month ascending triangle with the possible price target of 21.40 levels.

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Stock prices are either in a follow through trending phase or in a consolidation phase. During a strong trending period, a stock will proceed from one price level to another with very little interruption. During a consolidation period a stock will move in both directions without producing any meaningful or sustained price change.

During periods of consolidation prices tend to form a recognizable chart pattern which helps us to determine the direction and magnitude of the next substantial trend with some degree of accuracy.

Because price action and chart patterns are a result of human interaction, it is possible to find those repeating chart patterns in different markets, in different time frames such as on daily, weekly and monthly scale and in different time periods.

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Review of the Best Classical Chart Pattern Breakouts

Every week, as I go through 1000’s of charts. I look for select, common characteristics on developing chart patterns. And the chart pattern should be mature on a weekly scale. For me, this means chart patterns in duration between 3 to 24 months. It should have a well-defined and preferably a horizontal chart pattern boundary. I look for chart patterns classified as H&S top/bottom, rectangles, cup & handle continuations, double top/bottoms and flags. I only feature symmetrical triangles that have well-defined boundaries. The boundary of the chart pattern should be tested several times before the breakout takes place. Several tests of a chart pattern boundary is an indication that market participants actually recognized the pattern boundary as an important technical level. A breach of this level would signal a shift in the market dynamics between the bulls and the bears.

Tech Charts Service – Webinar Recording

Please watch this interview between Aksel Kibar and Peter Brandt discussing the Tech Charts Service.  Your opportunity to join as a Founding Member (at discounted for life) expires on June 1st.

Aksel goes into detail about what you could expect as a Founding Member (Sign up links below video), service includes:

  • Yearly membership  –   Substantially discounted for as long as you keep renewing
  • Global Equities Report  – Delivered weekly
  • Classical charting principles  – Learn patterns and setups
  • Actionable information  – Worldwide indices and stocks of interest
  • Risk management advice  – The important trading points of each chart.
  • Information on breakout opportunities  – Identify the ones you want to take action on
  • Video tutorials  – How patterns form and why they succeed or fail
  • Watch list alerts  – As they become available so you can act quickly
  • Breakout alerts  – Usually once a week
  • Multi-part webinar course  – You learn the 8 most common charting principles
  • Webinars  – Actionable and timely advice on breaking out chart patterns

Webinar Recording


Hurry before it ends.  Obtain Founding Member status and receive a discounted price for LIFE!

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Tech Charts Service – Founding Membership

Dear followers of the Tech Charts blog,

Today I am pleased and proud to announce that we have launched our long awaited, Tech Charts membership service.  And because of your loyal following to date, we’re offering you the opportunity to join the service as a special Founding Member.

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Video Tutorial – Long Term Charts


Our Founding Membership launch is now OPEN!

For a 10-day period only, take advantage of our very low Founding Membership rate (locked for life) and join me on this new chapter.  See for more details.



Long Term Charts - Video Tutorial


Richard W. Schabacker discussed the importance of chart patterns in the averages, in his book Technical Analysis and Stock Market Profits. He concluded that if many individual issues were to make strong Head and Shoulders formations at exactly the same time, the average chart would, obviously, show a similar Head and Shoulders. However, since the many different stocks do not, as a rule, make their ‘‘peaks and valleys’’ on precisely the same days, the average chart is likely to show a less specialized and distinct pattern. We should, for this reason, expect the averages to show Common or Rounding Turns more often than do the charts of individual issues at times of important reversals.

Most stocks sooner or later will follow the major swings of the market. Individual stocks in a sector or industry group might form similar chart patterns due to economic cycles or sector rotation. These individual stocks can be affected by other factors such as commodity prices.

One should stay alert and start anticipating a major shift in the direction of the trend after finding similar chart patterns developing in a specific sector or industry group. It is important to note that these chart patterns are usually well-defined on the individual stocks when compared with the chart patterns on the averages.

The video tutorial discusses what can be next for the European banks by giving examples from the two major trading themes in energy sector equities and mining companies. Read More


Reminder:  Just one week left until our Founding Member launch on May 22nd!


It has been a strong week for equities in emerging Asia and also a strong start for the month of May. South Korea KOSPI index is breaking out to all-time highs by clearing its 6 year-long horizontal resistance at 2,210 levels. The index possibly formed a multi-year long bullish ascending triangle. A strong monthly close will signal positive performance for the coming months. The ascending triangle chart pattern price target stands at 2,750 levels. Emerging Asia is a big component in the MSCI Emerging Markets index. As of May 11, 2017 the top 3 counties in the index are China (26.92%), S.Korea (15.34%) and Taiwan (12.20%).

While the local currency stock market index South Korea KOSPI is breaking out to all-time highs, the U.S. Dollar denominated MSCI S.KOREA price index is few percentage points away from reaching new all-time high levels. The price action is clearly positive. The 9 year-long downward sloping trend line is standing at 460 levels. MSCI S.KOREA index is trying to break out of its multi-year sideways consolidation range.

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