GLOBAL EQUITY MARKETS – April 22, 2023
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is looking for direction. So far price action has been volatile around the 200-day average. This week is the 4th test of the strong horizontal resistance at 93.3 levels. If the ETF pulls back to the 200-day average once again, it might form a short-term cup & handle that can increase the bullish conviction of the chart pattern. Breakout above 93.3 levels will be very positive for Global equities. The short-term range is between the 200-day average and the horizontal resistance at 93.3 levels.
