BTCUSD cleared the horizontal resistance at 73.7K to new all-time highs. Clear breakout signal from the broadening pattern on weekly scale. Price rebounded from long-term average. Previous resistance at 73.7K continues to act as support. Breach of 91.2K puts the price back inside the consolidation range 91.2K-109K.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) completed the consolidation as a double top with the latest breakdown below 115 levels. Double top price target was quickly met at 107.2 levels. The correction extended beyond the price objective. Rebound following news effect regarding Tariffs helped the ETF to fill the gap. 115-116 area is the resistance. The ETF is now at its 200-day average. Only after a sharp recovery above the 200-day average we can start thinking about the bullish possibilities. ETF stalling around resistance area can form the right shoulder of a possible long-term H&S top.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) completed the consolidation as a double top with the latest breakdown below 115 levels. Double top price target was quickly met at 107.2 levels. The correction extended beyond the price objective. Rebound following news effect regarding Tariffs helped the ETF to fill the gap. 115-116.11 area will act as resistance. Further weakness can extend the correction towards 93.3 levels. It is important to note that the ETF is below its 200-day average. Only after a sharp recovery above the 200-day average we can start thinking about the bullish possibilities. ETF stalling around resistance area can form the right shoulder of a possible long-term H&S top.
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BTCUSD cleared the horizontal resistance at 73.7K to new all-time highs. Clear breakout signal from the broadening pattern on weekly scale. Price is consolidating earlier gains. Previous resistance at 73.7K becomes the new support. Previous support at 91.2K is the new resistance. So far price held above the year-long average. Read More
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) completed the consolidation as a double top with the latest breakdown below 115 levels. Double top price target was quickly met at 107.2 levels. The correction extended beyond the price objective. Rebound following news effect regarding Tariffs helped the ETF to fill the gap. 115-116.3 area will act as resistance. Further weakness can extend the correction towards 93.3 levels. It is important to note that the ETF is below its 200-day average.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) completed the consolidation as a double top with the latest breakdown below 115 levels. Double top price target was quickly met at 107.2 levels. Given the magnitude of the breakdown with a gap opening and closing at the lows of the week, we can expect the correction to extend beyond the price objective. A short-term support is at 105 levels. Further weakness can extend the correction towards 93.3 levels. 115-116.68 area becomes the new resistance.
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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 up during the week and is worth bringing to your attention before the week finalizes. Below are the latest additions to Tech Charts watchlist that are suggesting defense in U.S. equities. Continued weakness in equities can result in specific sectors outperform. These additions can help on the long side.
BTCUSD cleared the horizontal resistance at 73.7K to new all-time highs. Clear breakout signal from the broadening pattern on weekly scale. Price is consolidating earlier gains. The weekly candle confirmed the breakdown below the consolidation range (91.2K-109K). Previous resistance at 73.7K becomes the new support. Previous support at 91.2K is the new resistance. Read More
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) found support at the lower boundary and the 200-day average. Uptrend is intact in Global Equities. Failure to hold above 115 levels can complete the consolidation as a double top. The ETF is possibly looking for direction above the year-long average. If the developing pattern is a double top, the neckline at 115 levels will be the level to monitor for a breakdown confirmation. Stability above the year-long average can resume the sideways trading between 115 an 123.58 levels. Double top price target stands at 107.2 levels.
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