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.
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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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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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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BTC and ETH are holding to their earlier gains. Possible bull flag on BTCUSD can resume existing uptrend.
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 is possibly completing two chart patterns at the same time, increasing conviction in the recent breakout. The ETF formed a month-long bullish pennant and with last week's strong move completed the bullish continuation chart pattern, targeting 101 levels possibly as the first objective. During any pullback strong support area remains between 93.3 and 96 levels.
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.
Read More
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 is possibly completing two chart patterns at the same time, increasing conviction in the recent breakout. The ETF formed a month-long bullish pennant and with this week's strong move completed the bullish continuation chart pattern, targeting 101 levels possibly as the first objective. During any pullback strong support area remains between 93.3 and 96 levels.
Read More
BTC and ETH are holding to their earlier gains. Possible bull flag on BTCUSD can resume existing uptrend.
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 is possibly completing two chart patterns at the same time, increasing conviction in the recent breakout. Previous resistance at 93.3 levels becomes the new support. So far price action from October lows can be identified as an uptrend with higher lows. Last one month's sideways consolidation can become part of a pullback towards the broken resistance levels.
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