CRYPTOCURRENCIES – August 31, 2022
Several pairs remain range-bound while BTCUSD continues to trend lower after the breakdown of the possible bear flag. In this update we review some of the well-defined horizontal consolidations. Read More
GLOBAL EQUITY MARKETS – August 27, 2022
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. Breakout above 87 levels completed a short-term double bottom with the price target of 92.7 levels. The 200-day average acted as resistance at 93.1 levels. A text-book H&S bottom reversal can develop if the index completes its pull back around 87 levels to form the possible right shoulder. Such price action will form symmetry between left and right shoulders in both time and price scale. I'm now monitoring how the ETF will perform around 87 levels; the neckline of the previous double bottom.
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CRYPTOCURRENCIES – August 21, 2022
Mixed performance for cryptocurrencies. Sharp reversal on BTCUSD reminds us the bearish outlook once again. Some of the altcoins managed to offer short-term uptrends while others continued to remain rangebound.
GLOBAL EQUITY MARKETS – August 20, 2022
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. Breakout above 87 levels completed a short-term double bottom with the price target of 92.7 levels. The 200-day average is acting as resistance at 93.4 levels. Price target for the short-term double bottom was met. A text-book H&S bottom reversal can develop if the index pulls back towards 87 levels to form the possible right shoulder. For now I monitor the price action around the 200-day average.
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GLOBAL EQUITY MARKETS – August 13, 2022
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. Breakout above 87 levels completed a short-term double bottom with the price target of 92.7 levels. The 200-day average is acting as resistance at 93.5 levels. Price target for the short-term double bottom was met during the week. A text-book H&S bottom reversal can develop if the index pauses around the 200-day average and pulls back to form the possible right shoulder. For now I monitor the price action around the 200-day average.
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CRYPTOCURRENCIES – August 7, 2022
I will start this week's update with an exciting opportunity from altcoins and then we will continue with the updates on other pairs. The opportunity is on a weekly scale and has the potential of breaking out to all-time highs from a well-defined ascending triangle.
GLOBAL EQUITY MARKETS – August 6, 2022
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. Price rebounded from the previous low at 81.4 levels. Breakout above 87 levels completed a possible short-term double bottom with the price target of 92.7 levels. The 200-day average is acting as resistance at 93.5 levels. So far price action is reversion to the mean.
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GLOBAL EQUITY MARKETS – July 30, 2022
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. Price rebounded from the previous low at 81.4 levels. Breakout above 87 levels completed a possible short-term double bottom with the price target of 92.7 levels. The 200-day average is acting as resistance at 93.8 levels.
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CRYPTOCURRENCIES – July 25, 2022
Price action on many crypto pairs has been muted so far with many charts going through sideways consolidations. Minor lows held but rebounds have been weak.
GLOBAL EQUITY MARKETS – July 23, 2022
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. Price rebounded from the previous low at 81.4 levels. Sharp rally towards 87 levels puts the double bottom reversal possibility on the cards. Breakout above 87 levels can resume the rebound towards 91.7-94 area. Failure to clear 87 levels can result in the latest consolidation becoming a bearish continuation. Until there is a breakout, trading range remains between 81.4 and 87 levels.
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