Archive for category: Premium

REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is in an upward sloping channel. The lower boundary of the channel is forming support at 100 levels. Support area remains between 95.7 and 100 levels. There is no clear top reversal chart pattern on daily and weekly scale price charts. This week the ETF reversed from the upper boundary of the trend channel on daily scale price chart.

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 is the latest addition to Tech Charts watchlist from ASIA equities. This charts will also be included in the weekly update.

Several crypto currency pairs have completed short-term consolidations on the upside. Volatility was low. These short-term consolidations can act as bottom reversals. It is important to note that previous resistance levels will now act as support and also critical levels to manage risk. There has been few descending triangle chart patterns that were negated with upward breaks. Rather than focusing on those diagonal boundary breaks, I'm favoring the breakouts through horizontal boundaries. Read More

REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) reached its price target measured by the symmetrical triangle. Last 3 month's price action was a choppy uptrend. The ETF is in an upward sloping channel. The lower boundary of the channel is forming support at 100 levels. Support area remains between 94.4 and 100 levels. There is no clear top reversal chart pattern on daily and weekly scale price charts.

Cryptocurrencies are going through low volatility conditions. Many pairs have been in correction pulling back to their long-term averages. I'm using 365 day exponential moving average for my long-term trend following tool. In equities I prefer the 200-day average. Given that cryptocurrencies are trading all year round, I think 365 days is more appropriate. Irrespective, a long-term moving average is a good tool on a price chart to understand the overall trend of that instrument.

Not all cryptocurrencies will have a clean chart pattern development all the time. In this special issue, I'm trying to bring to your attention important well-defined support and resistance levels. Some pairs have clean chart pattern developments. However, I urge you to not use those patterns as a predictive tool. Rather, it should be used as a risk management tool once specific boundaries are breached on the upside or downside. I.e. some pairs are forming descending triangles which is a bearish chart pattern. However, it is only bearish if it is confirmed with a breakdown.