GLOBAL EQUITY MARKETS – August 11, 2018
REVIEW
A well-defined consolidation range can offer trading opportunity between the boundaries. Since the beginning of the year Global Equity Markets performance has been muted. The iShares MSCI All Country World Index ETF (ACWI.O) formed a possible symmetrical triangle with the upper boundary acting as resistance at 74 levels and the lower boundary as support at 70.5 levels. This week the ACWI ETF reversed from the strong resistance at 74 levels. Price chart suggests further consolidation in a range. A decisive breakout above 74 or below 70.5 levels will possibly complete the multi-month long consolidation and result in a directional move.
