The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) had a sharp recovery above 88.65-90.1 area. I see this as positive in the short-term. Global Equity benchmark is looking for direction. It will be important for the ETF to remain above the 200-day average in the coming days/weeks for the uptrend to resume.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) failed to hold above the neckline of the possible H&S continuation chart pattern at 90.1 levels. The ETF also close below its 200-day average, though it is still not conclusive if price broke down the long-term average or not. Failure to quickly recover above 88.64-90.1 area can result in a change in trend and suggest lower prices in the coming weeks.
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Several cryptocurrency pairs have rebounded from oversold levels and many more are forming possible bottom reversal chart patterns. In this update I discuss possibilities of bottom reversals in those pairs. Read More
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) cleared its short-term horizontal resistance (90.1) after holding above the 200-day average. 90.1 acted as the possible neckline of a H&S continuation. It is important for the equity benchmark to hold above its 200-day average and the neckline between 88.49 and 90.1 levels. H&S continuation price target stands at 96 levels. This week's price action can act as a pullback to the broken neckline. This is now the second test of the neckline over the past 2 weeks.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) cleared its short-term horizontal resistance (90.1) after holding above the 200-day average. 90.1 acted as the possible neckline of a H&S continuation. It is important for the equity benchmark to hold above its 200-day average and the neckline between 88.49 and 90.1 levels. H&S continuation price target stands at 96 levels. This week's price action can act as a pullback to the broken neckline.
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Rectangles are acting as bottom reversals and helping many crypto pairs to rebound from oversold levels. There are more setups and developing chart patterns. I discuss those in this week's special cryptocurrency report.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) cleared its short-term horizontal resistance (90.1) after holding above the 200-day average. 90.1 acted as the possible neckline of a H&S continuation. Breakout above the horizontal resistance can resume the uptrend above the long-term average. It is important for the equity benchmark to hold above its 200-day average and the neckline between 88.35 and 90.1 levels. H&S continuation price target stands at 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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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) cleared its short-term horizontal resistance (90.1) after holding above the 200-day average. 90.1 acted as the possible neckline of a H&S continuation. Breakout above the horizontal resistance can resume the uptrend above the long-term average. It is important for the equity benchmark to hold above its 200-day average at 88.2 levels. H&S continuation price target stands at 96 levels.
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