BTCUSD tests the 109K horizontal resistance. Short consolidation below the resistance can form another bullish continuation chart pattern with potential higher price objectives. ETH starts outperforming BTC in the short-term.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) did a round trip after the sharp sell-off and reached its all-time highs around 124 levels. The fact that the ETF cleared its 200-day average and moved significantly above it can be analyzed long-term positive as pullbacks and consolidations are likely to find support above the 200-day. This week’s strength cleared the horizontal resistance at 124. 120-124 area will act as support during any pullback. Outlook is positive for Global Equities.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) did a round trip after the sharp sell-off and reached its all-time highs around 124 levels. The fact that the ETF cleared its 200-day average and moved significantly above it can be analyzed long-term positive as pullbacks and consolidations are likely to find support above the 200-day. I will monitor the ETF to see if it will stabilize above the long-term average in preparation of resuming higher. This can be the short breather after the ETF had a strong rebound. The breather if it forms a higher low above the long-term average in the form of a tight consolidation will increase the conviction on bullish setup, a possible H&S pattern with the neckline at 124 levels. 116.85-120 area will act as support during pullback. Outlook is positive for Global Equities.
Tech Charts Year in Review. Aksel compares the before and after of charts shared with Members over the last year followed by a live Q&A.
Tech Charts Year in Review – Year Eight
Live questions from Members
Recorded live 05.29.2025
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) did a round trip after the sharp sell-off and reached its all-time highs around 124 levels. The fact that the ETF cleared its 200-day average and moved significantly above it can be analyzed long-term positive as pullbacks and consolidations are likely to find support above the 200-day. I will monitor the ETF to see if it will stabilize above the long-term average in preparation of resuming higher. This can be the short breather after the ETF had a strong rebound. During the consolidation the ETF can form a possible H&S pattern with the neckline at 124 levels. 117.12-120 area will act as support during pullback. Outlook is positive for Global Equities.
Dear Tech Charts Members,
Tech Charts Year in Review. Aksel will compare the before and after of charts shared with Members over the last year. As always, we’ll end the webinar with a live Q&A.
Scheduled for: Thursday, May 29, 2024, at 8:30 am mountain (register below)
Tech Charts Year in Review – Year Eight
BTCUSD tests the 109K horizontal resistance. Short consolidation below the resistance can form another bullish continuation chart pattern with potential higher price objectives. ETH starts outperforming BTC in the short-term.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) did a round trip after the sharp sell-off and reached its all-time highs around 124 levels. The fact that the ETF cleared its 200-day average and moved significantly above it can be analyzed long-term positive as pullbacks and consolidations are likely to find support above the 200-day. I will monitor the ETF to see if it will stabilize above the long-term average in preparation of resuming higher. This can be the short breather after the ETF had a strong rebound. The breather if it forms a higher low above the long-term average in the form of a tight consolidation will increase the conviction on bullish setup, a possible H&S pattern with the neckline at 124 levels. 116.85-120 area will act as support during pullback. Outlook is positive for Global Equities.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) did a round trip after the sharp sell-off and reached its all-time highs around 124 levels. The fact that the ETF cleared its 200-day average and moved significantly above it can be analyzed long-term positive as pullbacks and consolidations are likely to find support above the 200-day. I will monitor the ETF to see if it will stabilize above the long-term average in preparation of resuming higher. One thing is clear the sharp rebound from the lows is due for a short breather. The breather if it forms a higher low above the long-term average in the form of a tight consolidation will increase the conviction on bullish setup, a possible H&S pattern with the neckline at 124 levels. Outlook is positive for Global Equities.
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 up during the week and is worth bringing to your attention before the week finalizes. Below are the latest additions to Tech Charts watchlist from U.S. equities that are close to breakout confirmation levels. The charts will be discussed in the weekend report as well.
