Archive for category: Premium

REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) recovered above its 200-day average which was acting as resistance at 88.5 levels. Breakout was with a long daily candle that cleared both the trend line resistance and the 200-day average. Following two days were pullback to the broken resistance. It will be important for the ETF to hold above those levels in the rest of December. Failure to hold above 88.5 will result in a similar move we have seen in March 2022 where the ETF had few days of price action above the average and rolled over to resume its downtrend.

REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average which is acting as resistance at 88.5 levels. This is now the second test of the 200-day average in the same month and the third test in the same year. We will learn shortly if this is another reversion to the mean in a steady downtrend or the beginning of a new uptrend with the breach of strong resistance area. The inflection area is between 88.5 and 89. Failure to clear the strong resistance area can result in a weakness towards the minor low at 85 levels.

REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average which is acting as resistance at 88.5 levels. The ETF recovered above 81.4 levels. Downtrend is intact. March and August were two other times the ETF tested its 200-day average in a downtrend. I will monitor the price action around the long-term average. 88.5-89.5 area is the resistance. Breakout above that range can change the outlook to positive for Global equities.

REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average which is acting as resistance at 88.1 levels. The ETF recovered above 81.4 levels. Downtrend is intact. March and August were two other times the ETF tested its 200-day average in a downtrend. I will monitor the price action around the long-term average. 88.1-90 area is the resistance. Breakout above that range can change the outlook to positive for Global equities.

I pay attention to breakouts/breakdowns through horizontal boundaries. Breakouts through the diagonal boundaries can offer directional movement, though they might not follow the guidelines of classical charting principles. While an initial thrust can take place, it will not be possible to measure price objectives or chart pattern negation levels. With the breakout above 20,500 levels, BTCUSD experienced one of those price actions where there was not much follow through and the pattern most likely is going through some kind of morphing. Let's review some of the recent chart pattern developments on different pairs. Read More