Bullish outlook on BTCUSD remains intact. Price cleared the resistance at 31.4K which now becomes a strong support. H&S bottom reversal which had the neckline at 25K met its price objective at 34K. A possible rectangle might be in play with the price target of 38K. ETHUSD chart is possibly morphing with a possible channel on daily scale price chart. Read More
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) failed to recover above 93 levels which is now resulting in further weakness below the long-term average. Minor low at 90.2 broke down. Resistance area is between 90.2 and 92.77 levels. Before we see a recovery above the 200-day average, I will monitor Global Equity benchmark with a bearish view, possibly entering into a larger scale correction. The low of the right shoulder will act as the chart pattern negation level for the 10 month-long H&S bottom.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) rebounded towards the resistance at 93 levels. Previous support at 93 levels acted as resistance. The ETF failed to recover above 93 levels which is now resulting in further weakness below the long-term average. Minor low at 90.2 can act as short-term support. Before we see a recovery above the 200-day average, I will monitor Global Equity benchmark with a bearish view, possibly entering into a larger scale correction.
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During the daily charts review I came across those text-book opportunities which I think are time sensitive and fresh opportunities as breakdown candidates. Below are the latest additions to Tech Charts watchlist. These charts will also be included in the weekly update.
Read MoreDuring the weekend research and daily charts review I came across those text-book opportunities which I think are time sensitive. Below are the latest additions to Tech Charts watchlist. These charts will also be included in the weekly update.
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Bullish outlook on BTCUSD remains intact. Important support level at 25K level. A re-test of 28K levels can increase the likelihood of a bottom reversal, possibly a double bottom. ETHUSD chart is possibly morphing with a possible short-term rectangle on daily scale price chart. Read More
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) rebounded towards the resistance at 93 levels. Previous support at 93 levels become the new resistance. Failure to recover above 93 levels can result in further weakness below the long-term average. A sharp recovery above 93 levels can result in a bear trap and resume the uptrend on the Global Equity benchmark. For the uptrend to resume in Global Equities, it will be important for the ETF to stabilize above the long-term average.
Read MoreI start my research on Mondays and finalize by end of day Thursday. Friday is dedicated to putting all ideas to the report format. During the week I come across good setups and those are featured in the weekly report. However, there are those that pop during the week and is worth bringing to your attention before the week finalizes. Below are the latest additions to Tech Charts watchlist. 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) breached the support formed by the 200-day average and the horizontal support at 93 levels. Friday's sharp rebound closed around the 200-day average and the previous support which is now the resistance at 93 levels. Failure to recover above 93 levels can result in further weakness below the long-term average. A sharp recovery above 93 levels can result in a bear trap and resume the uptrend on the Global Equity benchmark.
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Bullish outlook on BTCUSD remains intact. Important support level at 25K level. A re-test of 28K levels can increase the likelihood of a bottom reversal, possibly a double bottom. ETHUSD chart is possibly morphing with not a clear chart pattern development at this stage. Read More
