Archive for category: Premium

Announcement:

Dear Tech Charts Members,

We are continuing our Member webinar series with chart pattern reliability and how the latest market conditions have impacted success rates on different chart patterns. 

Scheduled for: Thursday, December 16, 8:30 am mountain (register below)

The sharp correction in cryptocurrencies put more pressure on BTC than many other pairs. After a sell-off like this our attention should be on the price charts that managed to remain strong and close to their resistance levels. Usually those that hold well will be the ones to recover to new highs when momentum returns.

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is in an uptrend. Failure to hold above 105.5 levels resulted in a failed breakout and is now pull the price towards the long-term average at 100 levels. Another horizontal support is standing at 99 levels, making the range 99-100 the next possible strong support area. 105.5 becomes resistance again.

REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is in an uptrend. There is no reversal chart pattern on the daily scale price chart. This week's price consolidated and remained above the short-term support level at 105.5. Breakout above 105.5 levels resumed the existing uptrend. Previous resistance becomes the new support at 105.5 levels. Long-term average is also acting as support at 99.7 levels. Failure to hold above 105.5 levels can result in a failed breakout and pull the price towards the long-term average.