GLOBAL EQUITY MARKETS – December 9, 2023
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is trying to stabilize above the 200-day average. The ETF is holding on to its gains and resuming towards the next resistance at 99.5 levels. With the recovery above the 200-day average, I start monitoring the chart with a bullish perspective. During any pullback the ETF can fill the gap above 94.1 levels, which could be considered as a pullback to the long-term average. Long-term H&S bottom price target stands at 109 levels. Breakout above 99.5 levels can resume the uptrend towards the H&S bottom price target at 109 levels.
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