CRYPTOCURRENCIES – September 3, 2023

Bullish outlook on BTCUSD remains intact. Important support level at 25K level. ETHUSD chart is possibly morphing with not a clear chart pattern development at this stage. Read More

GLOBAL EQUITY MARKETS – September 2, 2023

UPCOMING EVENT - SEPTEMBER QUARTERLY MEMBER WEBINAR

Tech Charts members, please mark your calendar as we are excited and preparing for the quarterly member webinar. We will share the webinar link in the following weeks. It will be my pleasure to have the joint webinar with Peter Brandt discussing many topics in charting, statistics and more.

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of its multi-month long consolidation. In its uptrend the ETF formed several bullish continuation chart patterns with the latest one being the short-term bullish pennant. Price action so far looks like a reversion to the mean. Strong support area remains between the 200-day average, 92.7 and the horizontal boundary at 93.3 levels. Given that two important technical levels are overlapping around the same area, I see it as an inflection point. Failure to hold above the 200-day average can result in a change in trend. If the pullback (re-test of the horizontal support) has been completed the ETF can target cup & handle price target at 101 levels in the following weeks. Uptrend is intact above the 200-day average.

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GLOBAL EQUITY MARKETS – August 26, 2023

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of its multi-month long consolidation. In its uptrend the ETF formed several bullish continuation chart patterns with the latest one being the short-term bullish pennant. Breakdown below the trend line support resulted in a pullback towards the next support at 93.3 levels. Price action so far looks like a reversion to the mean. Strong support area remains between the 200-day average, 92.5 and the horizontal boundary at 93.3 levels. Given that two important technical levels are overlapping around the same area, I see it as an inflection point. Failure to hold above the 200-day average can result in a change in trend.

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CRYPTOCURRENCIES – August 20, 2023

Breakdowns on BTC and ETH result in pullbacks to important technical support levels. Bullish outlook on BTCUSD remains intact. ETHUSD chart is possibly morphing with not a clear chart pattern development at this stage. Read More

GLOBAL EQUITY MARKETS – August 19, 2023

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of its multi-month long consolidation. In its uptrend the ETF formed several bullish continuation chart patterns with the latest one being the short-term bullish pennant. Breakdown below the trend line support resulted in a pullback towards the next support at 93.3 levels. Price action so far looks like a reversion to the mean. Strong support area remains between the 200-day average, 92.4 and the horizontal boundary at 93.3 levels. Given that two important technical levels are overlapping around the same area, I see it as an inflection point. Failure to hold above the 200-day average can result in a change in trend.

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GLOBAL EQUITY MARKETS – August 12, 2023

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of its multi-month long consolidation. In its uptrend the ETF formed several bullish continuation chart patterns with the latest one being the short-term bullish pennant. ACWI ETF is possibly pulling back to the broken short-term consolidation and toward the upward sloping trend line which is forming support at 96 levels. The uptrend is intact and strong support area remains between 93.3 and 96 levels. Chart pattern price targets for cup & handle and the larger scale H&S bottom reversal stand at 101 and 109 levels. Breakdown below the trend line support can result in a pullback towards the next support at 93.3 levels.

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CRYPTOCURRENCIES – August 6, 2023

BTC and ETH are holding to their earlier gains. Directional moves can start soon as the volatility both on daily and weekly scales drop to low levels. Usually low volatility conditions are followed by high volatility and vice versa.

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GLOBAL EQUITY MARKETS – August 5, 2023

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of its multi-month long consolidation. In its uptrend the ETF formed several bullish continuation chart patterns with the latest one being the short-term bullish pennant. ACWI ETF is possibly pulling back to the broken short-term consolidation and toward the upward sloping trend line which is forming support at 96 levels. The uptrend is intact and strong support area remains between 93.3 and 96 levels. Chart pattern price targets for cup & handle and the larger scale H&S bottom reversal stand at 101 and 109 levels.

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GLOBAL EQUITY MARKETS – July 29, 2023

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of its multi-month long consolidation. Breakout above 93.3 levels is very positive for Global equities. The ETF possibly completed two chart patterns at the same time, increasing conviction in the recent breakout. Cup with handle price target stands at 101 levels. Uptrend is intact with higher highs and higher lows. During any pullback strong support area remains between 93.3 and 96 levels.

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INTERIM UPDATE – July 28, 2023

I 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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