BTCUSD challenges the short-term support at 101.5K horizontal resistance. Breakdown can result in a deeper correction, though can still keep the bullish outlook intact. ETH starts outperforming BTC in the short-term, re-test of previous lows can form a possible double bottom on the ratio.
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. After clearing the horizontal resistance at 124, 120-124 area will act as support during any pullback. Outlook is positive for Global Equities. Given the geopolitical tensions, Global Equites can use this as a reason for pause and reversion to the mean. Breakdown below 124 levels can result in a deeper correction towards the 200-day average.
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. After clearing the horizontal resistance at 124, 120-124 area will act as support during any pullback. Outlook is positive for Global Equities. Given the geopolitical tensions, Global Equites can use this as a reason for pause and reversion to the mean.
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.
