GLOBAL EQUITY MARKETS – March 16, 2024

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) reached its long-term H&S bottom price target at 109 levels. The ETF earlier completed a bullish flag which has helped the uptrend resume higher. Global Equity benchmark is now testing a resistance area. 106.8-109 area is acting as resistance and so far paused the existing uptrend. There is no top reversal chart pattern at this stage. During any sharp pullback 106.8-102.3 area can act as support. Short consolidation above 106.8 should be considered bullish and suggest continuation of the existing uptrend.

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GLOBAL EQUITY MARKETS – March 9, 2024

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) reached its long-term H&S bottom price target at 109 levels. The ETF earlier completed a bullish flag which has helped the uptrend resume higher. Global Equity benchmark is now testing a resistance area. 106.8-109 area can act as resistance and pause the existing uptrend. There is no top reversal chart pattern at this stage. During any sharp pullback 106.8-102.3 area can act as support.

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INTERIM UPDATE – March 7, 2024

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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. These charts will also be included in the weekly update.

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CRYPTOCURRENCIES – March 3, 2024

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BTCUSD cleared the upper boundary of trend channel and once again tested the 65K resistance. Breakout above the upper boundary of a rising trend channel started a runaway price movement towards 65K. ETHUSD cleared the upper boundary of the possible rising wedge, held the support level and now accelerating the uptrend with long back to back white candles.
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GLOBAL EQUITY MARKETS – March 2, 2024

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is trending towards the long-term H&S bottom price target at 109 levels. The ETF earlier completed a bullish flag which has helped the uptrend resume higher. Global Equity benchmark is now getting closer to a resistance area. 106.8-109 area can act as resistance and pause the existing uptrend. There is no top reversal chart pattern at this stage.

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GLOBAL EQUITY MARKETS – February 24, 2024

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is trending towards the long-term H&S bottom price target at 109 levels. The ETF earlier completed a bullish flag which has helped the uptrend resume higher. Global Equity benchmark is now getting closer to a resistance area. 106.8-109 area can act as resistance and pause the existing uptrend. There is no top reversal chart pattern at this stage.

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CRYPTOCURRENCIES – February 18, 2024

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BTCUSD reached the upper boundary of trend channel once again this time at 52K which is acting as a valid resistance. Breakout above the upper boundary of a rising trend channel can start a runaway price movement towards 65K. ETHUSD cleared the upper boundary of the possible rising wedge, held the support level and now accelerating the uptrend.
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GLOBAL EQUITY MARKETS – February 17, 2024

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is clearly above its 200-day average and in a steady uptrend. Long-term H&S bottom price target stands at 109 levels. The upper boundary of the flag at 102.3 will act as short-term support during any pullback. The ETF had a volatile week with a gap open lower followed by a sharp rebound to test the minor high at 105.6 levels. Short-term setbacks are part of a steady uptrend.

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INTERIM UPDATE – February 16, 2024

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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. These charts will also be included in the weekly update.

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CARVANA CO (CVNA.N)

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Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart, Carvana Co. is from the watchlist section of the weekly report. It is featuring a possible 6 month-long head and shoulder continuation.

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